-
Silver Price Forecast: XAG/USD tests the $55 floor as sellers retain control
Silver (XAG/USD) extends its decline on Thursday as the US Dollar (USD) rebounds and US Treasury yields stabilize following a two-day drop driven by softer-than-expected US inflation data. At the time of writing, XAG/USD trades around $55.75, down 3.50% on the day. Despite the softer inflation readings, price pressures could pick up again as escalating tensions in the Middle East drive Oil prices higher. This keeps the possibility of a Federal Reserve (Fed) interest rate hike later this year alive, supporting the US Dollar and weighing on the non-yielding metal, which typically performs better in a low-interest-rate ... (full story)
- Comments / Top
- Subscribe
-
Related Stories
From fxempire.com | 21 hr ago
Gold is moving lower as traders remain worried about hawkish Fed despite recent CPI and PPI reports. FedWatch Tool indicates that there is a 48.5% probability that Fed will raise the federal funds rate at the meeting in September. Interestingly, the market believes that there is a 5.9% chance of two rate hikes by September. These expectations put pressure ...
Gold futures saw a daily close below 4,000 for the first time since October on Thursday. And it didn’t take much of a rise in the US dollar for gold bears to enjoy their breakout. The US dollar index rose just 0.17%, recouping less than a third of the losses accumulated over the previous two days. I had already noted that gold appeared vulnerable to a break ...
From tickmill.com | 9 hr ago
Copper Sinking on Friday Copper prices are falling sharply on Friday with the futures market gapping lower today and now down around 2% from yesterday’s close. The move comes amidst a fresh uptick in USD as focus reverts back to the re-escalation of the US/Iran war and the renewed inflation implications linked to the conflict. With oil prices surging higher ...
