Silver price (XAG/USD) holds onto gains above the crucial figure of $28.00 in Friday’s New York session.
Silver price holds gains above $28.00 amid firm speculation for Fed rate cuts. Steadily cooling US labor market conditions keep the US Dollar’s upside limited. Investors shift focus to the US Inflation data. Silver price holds onto gains above the crucial figure of $28.00 in Friday’s New York session. The white metal remains firm as investors’ confidence in the Fed eral Reserve starting to reduce interest rates from the September meeting has strengthened.
10-year US Treasury yields jump to 4.49%. Next week, US economic calendar will be data-packed as the Producer Price Index and Consumer Price Index , and the Retail Sales data are lined-up for release. The major event will be the consumer price inflation data, which will influence market expectations for Fed rate cuts. Silver technical analysis Silver price recovers sharply after discovering buying interest near the horizontal support plotted from 14 April 2023 high around $26.
XAGUSD Fed Inflation Supportresistance Silver
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