Silver price continues to follow its downward trajectory, trading lower around $21.80 during the Asian session on Monday. The prices of non-yielding a
Momentum indicators signal a potential bearish sentiment in the price movements.price continues to follow its downward trajectory, trading lower around $21.80 during the Asian session on Monday. The prices of non-yielding assets like Silver face challenges, primarily due to the upbeat US Treasury Yields. The yield on the 10-year US Treasury bond stands at 4.61%, up by 0.96% by the press time.
Chinese NBS Manufacturing PMI for August increased to 50.2 from the previous 49.7 figures, surpassing the anticipated 50.0. Additionally, the Non-Manufacturing PMI climbed to 51.7 from the previous reading of 51.0, exceeding the market consensus of 51.5. A firm break above the latter could influence the XAG/USD pair to explore the area around the 14-day EMA at $22.79, followed by the $23.00 psychological level.
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