Silver price (XAG/USD) rallies to near $30.50 in Wednesday’s American session.
Silver price surges to near $30.50 as unexpectedly weak US ADP Employment data weighs on the US Dollar. Fed Powell admitted slight progress in inflation. Investors await the US ISM Services PMI and the FOMC minutes. Silver price rallies to near $30.50 in Wednesday’s American session.
This suggests that a corrective move in the Silver price has now concluded and it has resumed its upside journey. The white metal climbs above the 20-day Exponential Moving Average near $29.60, suggesting that the near-term trend is bullish. The 14-period Relative Strength Index approaches 60.00. A decisive break above the same would shift momentum towards the upside.
XAGUSD Fed PMI Dollarindex Silver
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