On Monday, the Silver Spot price XAG/USD gained momentum, mainly driven by US yields taking a big hit after Federal Reserve’s Lorie K. Logan hinted at
XAG/USD rose to $21.85, up by more than 1%. Lorie Logan's dovish words made US yields plunge by more than 2%. Despite lower Treasury yields, the US Dollar holds its ground. On Monday, the Silver Spot price XAG/USDgained momentum, mainly driven by US yields taking a big hit after Federal Reserve’s Lorie K. Logan hinted at“less need” to hike rates this cycle. In the meantime, investors are still assessing Friday’s jobs report from the US with their eyes set on Thursday’s inflation figures.
The Unemployment rate also increased to 3.8% YoY. Regarding the inflation readings, the Consumer Price Index is expected to decelerate to 3.6% YoY, and the Core measure is seen to have fallen to 4.1% YoY. XAG/USD Levels to watch The daily chart analysis suggests a neutral to bullish outlook for XAG/USD, with the bulls gaining strength, although challenges persist.
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