Silver has rallied early on Wednesday to jump across the 200 Day EMA again. However, with the CPI number due and the uncertainty in the Middle East, it remains a noisy market
Wednesday to show signs of life again as we are awaiting CPI numbers and the influence that inflation may or may not have on the asset.
Silver rebounds as Treasury yields drop and buyers step back into the rate-relief trade before CPI. Oil near $90 keeps the inflation argument alive and the Fed debate unresolved.
Silver Price Forecasts: XAG/USD resumes its uptrend, with bulls aiming for $67.17
The geopolitical tensions support the safe haven assets on Wednesday. The shipping attacks in the Middle East raised fears of supply disruptions and escalation.
Silver Price Forecast: XAG/USD rises to near $65.40 with US inflation in focus
Silver Price Forecast: XAG pullback puts $63.50 in focus
XAG/USD Price Forecast: Silver pauses recovery, holds around $65
Silver traders are watching $66.51 as CPI determines whether XAGUSD resumes its rally or retreats toward $61.75 support.
Why India's Silver imports fell 91% in a month
Silver continues to see noise around the 200-day EMA on Tuesday, as we are looking at a market that has perhaps been a bit overextended.
Silver retreats toward $65.00 as Oil rebound revives inflation concerns