Silver Rises to Near $70.50 as Rate Concerns Ease

Silver (XAG/USD) continued its upward momentum, trading around $70.40 per troy ounce in Asian trading. The precious metal has now risen for five straight sessions.

The move comes as market expectations of further interest rate hikes recede, reducing the opportunity cost of holding non-yielding assets like silver. Investors are increasingly pricing in a less aggressive monetary policy stance from central banks.

Technically, the break above the $70.00 level signals sustained buying interest. However, the metal remains sensitive to any shift in rate outlook or risk sentiment.