Silver (XAG/USD) rebounds on Wednesday and trades around $67.50 at the time of writing, up 2.64% on the day. The white metal benefits from broad weakness in the US Dollar (USD), but its recovery faces a challenging environment for precious metals as surging energy prices revive inflation concerns and strengthen expectations of higher US interest rates.
The US Dollar remains under pressure, notably due to a sharp appreciation of the Japanese Yen (JPY). The US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, falls around 0.25% on Wednesday and trades near 98.61, close to its lowest level since…
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