Silver price rises toward two-week high of $28.80 as US Dollar edges down. The US Dollar drops even though US PPI grew at a faster rate in April. The Fed could delay rate cuts beyond September. Silver price jumps higher to $28.60 in Tuesday’s New York session. The white metal strengthens as the US Dollar drops despite the United States Bureau of Labor Statistics has published a stubborn Producer Price Index report. Monthly headline PPI grew at a faster rate of 0.5% from the estimates of 0.
This week, the US Consumer Price Index data for April will be the major economic indication that will help investors to project the next move in the Silver price, US Dollar and the bond yields, which will be published on Wednesday. Investors will also focus on the monthly Retail Sales, which will be published along with the consumer inflation data.
XAGUSD PPI CPI Dollarindex Silver
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