Silver Price Analysis: XAG/USD trading comfortably above $23.00, within recent ranges pre-FOMC minutes By Frank_Macro XAGUSD Silver
Silver is trading with modest gains ahead of the release of what are expected to be hawkish leaning FOMC minutes.Silver’s resilience in the face of higher real yields has been surprising, but may not last. prices are trading with modest gains in the run-up to the release of what is widely expected to be hawkish leaning FOMC minutes release at 1900GMT. Prices are currently trading just above the $23.00 level, up about 0.4% or about 8 cents on the day and slightly above the midpoint of the $22.
That raises the chance that the Fed’s inflation forecasts for 2.6% in 2022 and then closer to 2.0% in the subsequent years may prove correct. 10-year yields at current levels just abov 1.65%, though sharply up on the week , suggest that bond markets see the Fed’s rate projections as overly optimistic.
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