**BREAKING: Silver Recovers Ground Above $57.50 Following Sharp Thursday Selloff**
Silver prices are climbing during Friday’s Asian trading session, holding above $57.60 per troy ounce after suffering losses exceeding 4% in Thursday’s session. The precious metal is showing resilience despite growing market expectations for Federal Reserve interest rate increases, which typically pressure non-yielding assets like silver.
The recovery comes as traders reassess positioning following Thursday’s sharp decline. Silver’s ability to maintain support above the $57.50 level suggests underlying demand remains intact even as higher rate hike probabilities would normally strengthen the dollar and weigh on commodity prices. The divergence between rising Fed rate expectations and silver’s price action indicates complex cross-currents affecting precious metals markets.
Market participants should monitor whether silver can sustain this recovery into Western trading hours, particularly given the headwinds from monetary policy expectations.
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FXnCO Insight
** Traders should watch the $57.50 support level closely—a break below could trigger accelerated selling, while sustained buying above $58.00 may signal a technical bounce opportunity despite rate hike headwinds.
Source: FXStreet