Silver price (XAG/USD) consolidates in a tight range for the last four trading sessions.
Silver price’s upside remains capped near $31.00 with a focus on the US Inflation . The US Dollar remains on the backfoot amid firm Fed rate-cut bets. Fed Powell sees cracks in US labor market strength. Silver price consolidates in a tight range for the last four trading sessions. The upside in the Silver price remains limited to around $31.00 as investors await the United States Consumer Price Index data for June, which will be published at 12:30 GMT.
00, suggesting a sharp volatility contraction. The overall trend remains bullish as it has turned sideways after a decisive breakout of the Bullish Flag chart formation on a four-hour timeframe. The asset trades close to the 20-period Exponential Moving Average near $31.00, suggesting indecisiveness ahead of US inflation data. The 14-period Relative Strength Index hovers near 60.00. A decisive break above the same would push the momentum toward the upside.
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