Silver prices climbed above $66, reaching around $66.30 and marking a 2.47% gain on Monday, driven by a weakening US Dollar and changing expectations around Federal Reserve interest rate hikes, according to FX Street.
The US Dollar has softened against the Euro as markets increasingly discount the likelihood of further Fed tightening this year. Money managers have responded by significantly boosting long positions in gold, influenced by modest inflation, soft US employment data, and the belief that the Fed will hold off on raising rates, FX Street reported.
For Japanese investors, these developments highlight the ongoing sensitivity of precious metals and currency markets to US monetary policy signals, which continue to influence FX and commodity strategies within the region.