Silver price jumps higher to $28.60, driven by worsening geopolitical tensions. Israel’s response to Iran’s attack will escalate fears of Middle East tensions spreading beyond Gaza. US bond yields edge down despite Fed lean towards higher interest rates for a longer period. Silver price advances to $28.60 in Wednesday’s early New York session. The white metal witnesses significant buying interest as deepening Middle East tensions keep safe-haven bid firm.
A decline in yields on interest-bearing assets eases the opportunity cost of holding an investment in non-yielding assets, such as Silver. The US Dollar Index exhibits strength near 106.20 as robust US Retail Sales data for March has improved the economic outlook. Higher spendings by households are done when labor market conditions remain tight, suggest strong economic outlook.
XAGUSD Fed Inflation Supportresistance Silver
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