**BREAKING: Silver Surges Past $60 as Fed Chair Warsh Signals Softer Policy Stance**
Silver prices climbed above $60 per troy ounce on Thursday morning in Asian trading, marking a third consecutive session of gains. The XAG/USD pair reached $60.20 following unexpectedly dovish commentary from Federal Reserve Chairman Kevin Warsh at Wednesday’s ECB Forum on Central Banking.
Warsh’s less hawkish tone has triggered a significant shift in precious metals sentiment, with traders interpreting his remarks as signaling potential easing in monetary policy tightening. The move higher in silver prices reflects reduced expectations for aggressive interest rate actions, which typically benefit non-yielding assets like precious metals.
Forex traders, commodity brokers, and metals desks are closely monitoring the sustained rally, as silver continues building momentum across Asian markets. The precious metal’s breakout above the psychologically important $60 level could attract additional momentum-based buying from algorithmic trading systems and technical traders.
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FXnCO Insight
** Traders should watch for potential profit-taking near $61 resistance while maintaining long exposure, as dovish Fed signals historically support extended precious metals rallies.
Source: FXStreet