Silver Prices Fall to Year-to-Date Low

Silver came under renewed selling pressure, falling to a fresh year-to-date low below $53.00 before paring some losses. The white metal remained down on the day, with analysts pointing to a stronger US Dollar as a key factor capping the upside for prices.

Gold Struggles as US Dollar Strengthens

Gold prices fluctuated near the $4,000 mark, facing headwinds from a strengthening US Dollar ahead of the Federal Reserve's upcoming policy decision. Analysts characterized gold's recent rebound as tentative, noting that the metal remained under pressure despite some supportive factors like lower real yields.

Dollar Firmness and Oil Prices in Focus

A broadly firmer US Dollar exerted pressure across financial markets, with the Dollar Index (DXY) posting its third straight day of gains. In commodities, oil prices picked up as geopolitical tensions in the Middle East remained high, a factor that provided some support for commodity-linked currencies like the Canadian Dollar. Markets are closely watching for upcoming policy announcements from major central banks.