Silver price (XAG/USD) finds strong buying interest near $27.50 after correcting from fresh highs of $29.80.
Silver price bounces back to $28.50 even though investors expect Middle East tensions won’t escalate further. US bond yields rally amid uncertainty over Fed rate cut timing. Upbeat US Retail Sales boost demand for the US Dollar. Silver price finds strong buying interest near $27.50 after correcting from fresh highs of $29.80. The white metal rebounds to $28.50 in Monday’s American session but struggles to extend recovery as investors expect that Middle East tensions will not escalate further.
The US Dollar Index extends its upside to 106.20 after upbeat US Retail Sales data for March. The US Census Bureau reported that Retail Sales rose strongly by 0.7% from expectations of 0.3% but the pace was slower than the prior reading of 0.9%, upwardly revised from 0.6%. Silver technical analysis Silver price recaptures a three-year high near $30.00. The long-term outlook of the Silver price is extremely bullish as the 20-week Exponential Moving Average near $25.00, is sloping higher.
XAGUSD Fed Inflation Retailsales Silver
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