Silver price (XAG/USD) falls slightly from weekly high of $27.50 but manages a firm-footing above the crucial support of $27.00 in Tuesday’s late European session.
Silver price exhibits gains above $27.00 due to deepening optimism over Fed reducing rates in September. Weak US labor market boosts expectations of Fed rate cuts. Lower bond yields improve demand for Silver . Silver price falls slightly from weekly high of $27.50 but manages a firm-footing above the crucial support of $27.00 in Tuesday’s late European session. The white metal holds strength as investors remain optimist about the Fed eral Reserve reducing interest rates in the September meeting.
Meanwhile, deepening risks of Israel extending operation to Rafah, the southern part of Gaza, have improved the appeal of bullions. The Israel assault at Gaza is expected to worsen further as it has denied ceasefire proposal, which was agreed by Hamas, stating that it doesn’t meet their demands. Risks of geopolitical uncertainty are favorable for safe-haven assets such as Silver.
Fed Inflation Dollarindex XAGUSD Silver
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Silver Price Analysis: XAG/USD peaks to new three-year high above $27.00Silver soared sharply and finished the week with gains of close to 10%, hitting three-year highs after reaching levels last seen in June 2021.
Read more »
Silver Price Analysis: XAG/USD dips slightly, remains bullish above $27.00Silver's price edged down late during Monday’s North American session.
Read more »
Silver Price Forecast: XAG/USD attracts some sellers below $27.00 amid risk-on moodSilver price (XAG/USD) trades on a softer note for the second consecutive day around $26.95 on Tuesday during the early European session.
Read more »
Silver Price Analysis: XAG/USD plunges over 3%, back beneath $27.00Silver's price dropped sharply late in the North American session, as the Greenback staged a comeback bolstered by the rise in US Treasury yields.
Read more »
Silver Price Analysis: Silver price could be forming a Bear Flag price patternSilver (XAG/USD) price may have formed a Bear Flag pattern on the 4-hour chart which bodes ill for the precious metal’s price going forward.
Read more »
Silver Price Analysis: Silver price forming a Bear Flag price patternSilver (XAG/USD) price may have formed a Bear Flag pattern on the 4-hour chart with negative implications for the precious metal’s price going forward.
Read more »