Silver Prices Forecast: Will a Strong Dollar Continue to Weigh on XAG/USD?
==========
Silver prices dropped nearly 4% last week due to a stronger U.S. dollar and rising bond yields. The U.S. dollar gained strength as Treasury yields rose, increasing the opportunity cost of holding non-yielding assets like silver. Recent economic data showed a 26-month high in U.S. business activity, reinforcing expectations of a resilient economy and diminishing the likelihood of near-term Federal Reserve rate cuts. Traders are watching upcoming GDP and Core PCE reports for silver market direction. In the short term, silver prices are likely to remain under pressure, but the long-term outlook remains bullish due to expectations of eventual Federal Reserve rate cuts, geopolitical uncertainties, and sustained industrial demand.
#SilverPrices #UsDollar #Xag/usd #BondYields #UsBusinessActivity #FederalReserveRateCuts #TreasuryYields #EconomicData #Gdp #CorePce
https://www.fxempire.com/forecasts/article/silver-prices-forecast-will-a-strong-dollar-continue-to-weigh-on-xag-usd-1440554
FX Empire /
npub1lj…9zjdc
2024-06-23 06:37:02
Author Public Key
npub1ljmz9hjq6kkwm5ltqfc6dpw9ytalhtnf7sgp4r75dqvtsq2wz9sqp9zjdcSeen on
wss://relay.damus.ioPublished at
2024-06-23 06:37:02Event JSON
{
"id": "a5de3b72db36c483bedaba7ae1246d67039f1b00962a5bae3c9448d72dd86caa",
"pubkey": "fcb622de40d5acedd3eb0271a685c522fbfbae69f4101a8fd46818b8014e1160",
"created_at": 1719124622,
"kind": 1,
"tags": [],
"content": "Silver Prices Forecast: Will a Strong Dollar Continue to Weigh on XAG/USD?\n==========\n\nSilver prices dropped nearly 4% last week due to a stronger U.S. dollar and rising bond yields. The U.S. dollar gained strength as Treasury yields rose, increasing the opportunity cost of holding non-yielding assets like silver. Recent economic data showed a 26-month high in U.S. business activity, reinforcing expectations of a resilient economy and diminishing the likelihood of near-term Federal Reserve rate cuts. Traders are watching upcoming GDP and Core PCE reports for silver market direction. In the short term, silver prices are likely to remain under pressure, but the long-term outlook remains bullish due to expectations of eventual Federal Reserve rate cuts, geopolitical uncertainties, and sustained industrial demand.\n\n#SilverPrices #UsDollar #Xag/usd #BondYields #UsBusinessActivity #FederalReserveRateCuts #TreasuryYields #EconomicData #Gdp #CorePce\n\nhttps://www.fxempire.com/forecasts/article/silver-prices-forecast-will-a-strong-dollar-continue-to-weigh-on-xag-usd-1440554",
"sig": "78f49746b2fbc7cd70ad8c85e89b452d320c26c43b10a0057c538ba00377e658808c2b167058d408c4b9ba1c60dca70e7352eb30311956d7434d3b66ed30caa0"
}