Silver's dip amidst rate uncertainty

Watching $USLV today, down a solid -4.18% to 13.1871. It dipped as low as 12.78 earlier, which isn't entirely surprising given the Fed rhetoric this week hinting at a longer period of higher rates than some market participants had perhaps priced in. The narrative for metals has largely been tied to inflation hedges and a dovish pivot, so any hawkish leaning from central banks tends to put pressure on them.

My take is that this might be a healthy pullback rather than a structural breakdown for silver, especially if we consider the underlying demand picture and potential for renewed inflation pressures down the line. I'm keeping it on the watchlist, looking for how it reacts around these levels over the next few sessions. The strength of the dollar and bond yields will be key indicators to watch here. If the market starts to re-evaluate the Fed's stance again, we could see a rebound.