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Silver Plunging Amidst Post-FOMC Fallout
Silver prices are softening ahead of the weekend, tracking the move lower in gold, as fresh strength in USD hits commodities sentiment. The March FOMC was quite a mixed bag, however, the fallout from the meeting looks to be favouring a stronger Dollar, creating near-term headwinds for silver prices. While the Fed lowered its dot plot forecasts, now projecting two cuts down from one, Powell warned that the bank is in no rush to cut rates and an upward revisions to inflation forecasts has caused some confusion with traders eyeing risks that the bank turns less dovish if inflation starts to push higher as expected. The ... (full story)
