Silver price (XAG/USD) recovers sharply from a six-week low of $28.60 in Thursday’s New York session.
Silver price rebounds strongly from $28.60 as the US Dollar corrects. US price pressures are expected to have slowed in May. Fed Bowman sees no rate cuts this year. Silver price recovers sharply from a six-week low of $28.60 in Thursday’s New York session. The white metal rises to near $29.20 as the US Dollar extends its correction amid caution ahead of the United States core Personal Consumption Expenditure Price Index data for May, which will be published on Friday.
policymakers use the annual Core PCE Price Index, which excludes volatile food and energy prices, as their primary gauge of inflation. A stronger-than-expected reading could help the USD outperform its rivals as it would hint at a possible hawkish shift in the Fed’s forward guidance and vice versa.
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