The XAG/USD pair is trading near the $24.98 level, mostly neutral during Monday's session.
Recent ISM report signaled an uptick in US business activity, with PMIs beating expectations. Markets are discounting a reduced likelihood of a rate cut at the Fed's June meeting. Perceived hawkish bets on the Fed fueled a surge in US Treasury bond yields which weigh on non-yielding metals. Investors await key US labor market indicators to gain further guidance on the economy's health. The XAG/USD pair is trading near the $24.98 level, mostly neutral during Monday's session.
The bond market has also felt the ripples of these developments, with a notable surge in US Treasury bond yields, often seen as the cost of holding non-yielding metals, with the 2-year yield rising to 4.71%, while both the 5-year and the 10-year yields are at 4.33%, all pointing to a sharp uptick and possibly reflecting increased hawkish bets on the Fed.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Silver Price Analysis: XAG/USD tips top of range and reverses lowerSilver price (XAG/USD) is trading in the $24.750s on Friday, after touching the top of a multi-month range at roughly $25.700 and reversing lower.
Read more »
Silver Price Analysis: XAG/USD hangs near one-week low, just above mid-$24.00sSilver (XAG/USD) extends the previous day's sharp retracement slide from the $25.75-$25.80 region, or its highest level since early December and remains under some selling pressure for the second straight day on Friday.
Read more »
Silver Price Analysis: XAG/USD tumbles as bearish engulfing pattern loomsSilver's price plunged on Thursday amidst a risk-off impulse, reinvigorating the US Dollar.
Read more »
Silver Price Analysis: XAG/USD aims to recapture 11-month high slightly above $26Silver price (XAG/USD) extends its upside to $25.70 in Thursday’s European session.
Read more »
Silver Price Analysis: XAG/USD soars after Fed’s decision, eyes set on $26.00Silver prices climbed on Wednesday after the US central bank, the Federal Reserve, held rates unchanged, delivering a “dovish” hold.
Read more »
Silver Price Analysis: XAG/USD finds some light ahead of Fed meetingIn Wednesday's session, the XAG/USD traded at $24.90, marking a 0.20% increase.
Read more »