Silver Price News: XAG/USD renews intraday low near $23.50 as US Dollar bears take a breather – by anilpanchal7 Silver XAGUSD RiskAppetite Commodities Fed
Wednesday in Europe. In doing so, the bright metal takes clues from a pause in the US Dollar’s downtrend while reversing the previous day’s gains. steadies around 102.00 as bears await the US Gross Domestic Product for the fourth quarter and the next week’s Federal Open Market Committee meeting.
It’s worth noting that the downbeat US activity data join the dovish concerns surrounding the Federal Reserve’s next moves to keep XAG/USD buyers hopeful. However, an absence of Chinese traders and the pre-Fed blackout period joins the consolidation in the commodity markets, due to China’s Lunar New Year holidays, which seem to weigh on the Silver price of late.
Additionally, the market’s dicey moves and a lack of major data/events also probe the commodity traders. While portraying the mood, US Treasury bond yields remain inactive after Tuesday’s pullback while the S&P 500 Futures print mild losses but the stocks in the Asia-Pacific region trade mixed and support the currencies of the zone.
Moving on, Silver traders will pay close attention to the risk catalyst ahead of the US Q4 GDP as recession woes challenge the partially industrial commodity. However, major attention will be given to the next week’s Federal Open Market Committee meeting for clear directions. To sum up, the Silver price remains on the bear’s radar for the day but the bulls are lurking ahead of the key data/events.
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 is range-bound within $23.30$24.00Silver prices appear to have peaked following Monday’s price action, with the white metal unable to hold to the $24.00 figure, collapsing as low as $2
Read more »
Silver Price Analysis: XAG/USD marches towards 200-SMA inside weekly bearish channelSilver price (XAG/USD) picks up bids to refresh intraday high near $23.55 as it bounces off the five-week low marked the previous day. In doing so, th
Read more »
Ethereum devs create 'shadow fork' to test conditions for Ether withdrawalsEthereum devs implement “shadow fork” testnet, moving one step closer to enabling staking withdrawals.
Read more »
Chicago agents seized over 8,000 pounds of drugs, $23M in counterfeit items during FY 2022U.S. Customs and Border Protection agents in Chicago seized thousands of pounds of narcotics and over $23 million in counterfeit merchandise during the past fiscal year.
Read more »
US Customs and Border Protection in Chicago shows off seized drugs, guns, counterfeit productsUS Customs and Border Patrol officers in Chicago seized more than 8K pounds of drugs and $23 million dollars' worth of counterfeit products.
Read more »
3,600-year-old hoards may contain the earliest silver currency in Israel and GazaA new study of ancient silver hoards from Israel and Gaza suggests that metal was used as currency in the Bronze Age, hundreds of years earlier than previously suspected.
Read more »