Silver has experienced a sharp decline, entering a critical USD 70–80 retracement zone. OCBC Group Research analysts Sim Moh Siong and Christopher Wong note that despite this correction, silver remains sensitive to USD movements and policy uncertainties.
The EUR/USD pair attempts to regain ground near 1.1770 during the Asian trading session on Friday. The major currency pair attracts slight bids as the US Dollar ticks down amid an improvement in speculation that the Federal Reserve (Fed) could cut interest rates in the March policy meeting
Gold price (XAU/USD) tumbles to around $4,680 during the early Asian session on Friday. The precious metal extends the decline as traders cover losses from equities and adjust positions. The preliminary reading of the Michigan Consumer Sentiment Index report for February is due later on Friday.