On Tuesday’s session, Silver’s spot price XAG/USD traded neutral around $23.00, mainly limited to a strong USD whose DXY index jumped to a high of 104
A stronger USD and yields remaining high don’t allow precious metals to make a significant upwards move.On Tuesday’s session, Silver’s spot price XAG/USD traded neutral around $23.00, mainly limited to a strong USD whose DXY index jumped to a high of 104.90 and US yields slightly increased.had nothing relevant to offer, and markets remained cautious ahead of the August US Consumer Price Index tightening remain steady.
In the meantime, US Yields are edging higher on the day. The 10-year bond yield is seen at 4.29%, with mild gains on the day. The 2-year yield stands at 5.00% with 0.20% gains, and the 5-year yield is at 4.42%, also with mild gains. Upon analysing the daily chart, a neutral to bearish is seen for the XAG/USD, with the bears maintaining control and bulls struggling to make a significant move.
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