Silver prices have dropped sharply, tumbling by 3.41% to $29.51. The Federal Reserve’s recent signals regarding fewer rate cuts have created widespread bearish sentiment in the market. Rising Treasury yields and a stronger dollar have also contributed to this downward trend.

Investors are now turning their attention to upcoming jobs and inflation data to gauge future movements in the silver market. The pressure from these economic indicators could lead to further fluctuations in silver prices. Traders must stay alert and make informed decisions as they navigate these changes.

Understanding the influence of the Fed on silver prices remains crucial in this economic climate. Will silver recover, or will the bearish pressure continue? Market participants are encouraged to watch closely as the data unfolds.