On Thursday, the XAG/USD spot price rose back above the 20-day Simple Moving Average, towards $22.90, seeing sharp gains.
The XAG/USD soared more than 1.50% to $22.90, just above the 20-day SMA. Amid hawkish words from Fed’s Barking, US yields are rising, which could limit the upside. Weekly Jobless Claims from the US came in lower than expected. A sour market mood an escalating tensions in the Middle East. That being said, US yields rose after lower-than-expected US weekly Jobless Claims and hawkish words from the Federal Reserve’s Thomas Barking, which may limit the upside for the rest of the session.
Still, according to the CME FedWatch Tool, the odds of a 25 basis points hike in the Fed’s December meeting remain low, around 10%, and markets seem to be awaiting high-tier data to continue placing their bets on the next decisions. The US will report inflation figures from October next week.
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