Silver price (XAG/USD) is down almost 1% to near $58.40 during the Asian trading session on Friday. The white metal faces selling pressure as the US Dollar (USD) rebounds slightly, attempting to snap a three-day losing streak.
At press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.23% higher to near 100.20.
Technically, a higher US Dollar makes the Silver price an unfavorable risk-reward bet for investors.
However, the Silver price could rebound as the outlook of the US Dollar has become vulnerable following the Federal Reserve’s (Fed) monetary policy announcement on Wednesday, in…
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