Silver Price Forecast: XAG/USD reaches three-month highs above $21.00 on a risk-on impulse – by christianborjon Silver XAGUSD Metals Fed Macroeconomics
Silver price clears the $21.00 mark, courtesy of broad US dollar weakness amidst falling US bond yields.US factory orders remained unchanged, while job openings, fell.price continues to extend its recovery during the week, climbing above the $21.00 figure for the first time since June 2022, spurred by a soft US dollar and falling US Treasury bond yields. At the time of writing, XAG/USD is trading at $21.02, up by 1.66%, as the North American session progresses.
That said, the US Dollar Index, a gauge of the buck’s value vs. a basket of peers, creeps lower by 1.14%, at 110.389, undermined by US Treasury bond yields. The US 10-year benchmark note rate coupon is down two bps at 3.619%.featured factory orders for August, reported by the US Commerce Department. Figures came at 0%, after July’s reading of -1%. Meanwhile, the US Labor Department revealed that job openings in the US dropped, though they remained at higher levels.
are “not yet in a restrictive place for growth.” Richmond’s Fed Barkin said that a strong dollar has potential spillover effects on the global economy but stressed that the Fed is focused on the US economy.
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