Silver Price Analysis: $XAGUSD clears daily losses, limited by rising US yields Read More!➡️ Commodities Forex
The US bond yields are edging higher after the release of inflation from July fromlast week. The 10-year bond yields 4.19%, with 1.29 % gains on the day. The 2-year yield stands at 4.96% with 1.25 % gains, and the 5-year yield is at 4.38% with 1.29 % gains. In line with that, the USD measured by the DXY index rose to its highest level since early July, above 103.00 and limiting the precious metal’s gains.
Regarding the next Federal Reserve decisions, rising US yields hint that tightening expectations have risen. According to World Interest Rate Possibilities tool, the markets that a skip in September is likely while the odds of a 25 basis point hike in November rose nearly 40%. That being said, the Federal Open Market Committee’s minutes from July’s meeting will provide markets with a clearer outlook regarding the official's stance, which could generateAnalysing the daily chart, XAG/USD presents a bearish outlook for the short term, with both Relative Strength Index and Moving Average Convergence Divergence remaining in negative territory.
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