Markets

Silver Price Drops to $82 as US Dollar Strengthens Amid Strong Economic Data

Silver prices (XAG/USD) have fallen 1.6% to around $82.00 during Thursday's European trading session. The decline follows a significant rebound in the US Dollar, spurred by positive ADP Employment figures and unexpectedly robust ISM Services PMI data for February. This shift in market dynamics has put pressure on silver as investors react to the strengthening dollar. Analysts suggest that further movements in silver will depend on upcoming economic indicators and the overall health of the US economy.

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Bank of Canada Appoints Gosselin and Vincent as New Deputy Governors

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