Silver rallied to an almost three-year high, supported by a decline in US Treasury yields and a weaker US Dollar. Geopolitical tensions and speculations of a less dovish Federal Reserve also contributed to the rise. The market is now focused on the US CPI data for insights into inflation, as the Fed vows to tackle it. The XAG/USD trades at $28.00 per troy ounce after hitting a new multi-month high of $28.32.
Silver reaches $28.32, lifted by falling US Treasury yields, softer Dollar , despite Fed's hawkish view. Israel's PM comments add to geopolitical tensions , boosting precious metals. Market eyes US CPI for inflation insights; Fed vows to tackle inflation. Silver rallied to an almost three-year high, with the grey metal breaching key resistance on June 10, 2021. Buyers are eyeing May 2021 highs.
Market participants are looking for the release of the latest inflation report in the United States . The Consumer Price Index is expected to ease from a monthly perspective, yet it’s foreseen to be higher than February’s data in yearly figures. Core CPI is projected to dip in both readings. Federal Reserve’s policymakers had crossed the wires. The latest to cross newswires was Minnesota Fed Neil Kashkari, who said the US central bank can’t fall short on the inflation fight.
Silver US Treasury Yields Dollar Federal Reserve Geopolitical Tensions Inflation XAG/USD
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