Silver under pressure despite the demand for safe haven
Silver (XAG/USD) also withdrew and traded near $ 33.87 after hitting an intraday layer of $ 33.46. The metal remains sensitive to shifts in the risk sentiment, especially because traders make a profit in the midst of a stronger dollar.
Although geopolitical uncertainty continues to support a floor among the silver prices, the upward momentum is limited by technical resistance and investors indecision.
The movement of Silver reflects a broader theme on precious metals: although macroeconomic care and long-term inflation support in the long-term bullish sentiment, positioning in the short-term data remains dependent.
A series of weak American data has increased bets that the Federal Reserve can lower interest rates. The ISM production -PMI dropped to 49.0 in March, which indicates a contraction of the activity. At the same time, the Jolts vacancies fell to 7.56 million in February, compared to 7.76 million the month before, indicating the softness on the labor market.
Inflation at factory level rose to almost three years high and concerned concern about internship flation. According to the CME Fedwatch tool, markets now in 80 basic points of tariff reductions by the end of the year. Lower interest expectations usually prefer non-return assets such as gold and silver, which offers a fundamental background for the longer term strength.
As the markets wait for further clarity of the tariff data of the Trump administration and US economic reports, volatility in the metal space will probably continue to exist.