On May 14, US retail sales rose 0.5% in April, meeting market expectations. Weekly jobless claims increased slightly to 211,000. These figures support the Federal Reserve maintaining higher interest rates following recent high inflation data.
The US Dollar Index (DXY) climbed to a two-week high of approximately 98.60. This dollar strength created a direct headwind for commodities priced in the currency.
Silver prices fell between 0.9% and 2.2% during the session. Spot silver pulled back from two-month highs, snapping a multi-day winning streak as the hawkish Fed outlook weighed on the non-yielding asset.