Silver price (XAU/USD) stabilizes near $30.20 after a vertical downfall in Thursday’s New York session.
Silver price finds cushion near $30.20 as investors had already priced in hawkish interest rate guidance in FOMC minutes. US weekly jobless claims were lower at 215K from the estimates of 220K in the week ending May 17. The US Dollar and bond yields remain under pressure on firm Fed rate-cut prospects. Silver price stabilizes near $30.20 after a vertical downfall in Thursday’s New York session.
70 as investors remain firm that the Federal Reserve will start reducing interest rates from the September meeting. The USD Index struggles to stabilize despite the United States Department of Labor has posted lower Initial Jobless Claims than estimates for the week ending May 17. Number of individuals claiming jobless benefits for the first time were lower at 215K from the estimates of 220K.
XAGUSD Fed Inflation Supportresistance Silver
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