The price of silver (XAG/USD) rose on Wednesday (5/28). Silver was traded at $33.39 per troy ounce, up around 0.38% compared to yesterday's price at $33.27.
Meanwhile, the weakening US Dollar (USD) was the driving force behind today's silver movement.
Geopolitical instability or fears of a recession could cause silver prices to rise due to its status as a safe asset, although at a lower level than gold.
In addition, investors are preparing for the Federal Reserve's preferred inflation index data, the US personal consumption expenditures (PCE) price index excluding food and energy, which will be released on Friday.
The current silver price is at $ 33,395 / Toz. (yds)
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