Global Market Movers: Comex Silver price defends $28.00 amid escalating geopolitical risks

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  • Silver price on Comex gains ground on expectations of Fed rate cuts in 2024.
  • The non-yield asset like Silver appreciates as US Treasury yields decline.
  • The price of Silver follows the upward movement in Gold prices, supported by increased consumer and industrial demand. 
  • Israel's Foreign Affairs Minister, Israel Katz, affirmed that Israel would retaliate if Iran attacks its territory.
  • The escalating geopolitical tensions in the Middle East are driving investors towards safe-haven assets like Silver.
  • Investors adopt a cautious stance, anticipating potential policy shifts influenced by the incoming US CPI data. 
  • The US inflation data could likely have a significant impact on the US Dollar-denominated XAG/USD.

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