Silver Price Forecast: XAG/USD holds the fort at $21.00 despite UST yields continuing to rise Silver XAGUSD Metals
Silver price holds to its earlier gains but remains at risk, of closing the session below $21.00 a troy ounce.Federal Reserve officials emphasized the need to raise rates to the 5.25% - 5.50% area.price advances in the North American session after finding resistance above the $21.00 area, though it clings to gains of 0.33%. Bolstered by a softer US Dollar after United States data missed estimates, the white metal is extending its gains for two straight days.
Earlier, Federal Reserve officials crossed newswires and continued their hawkish rhetoric. Minnesota’s Fed President Neil Kashkari said interest rates should reach 5.4% in December and stay at that level. He also mentioned that he would consider increasing rates by either 25 or 50 basis points during the upcoming Fed meeting.commented that rates need to go as high as 5% - 5.25% and stood there “well into 2024.”, is down 0.46% at 104.471.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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