Despite hopes for a bullish outlook, silver prices (XAG/USD) are still stuck below the $32, indicating a possible continuation of a bearish trend. The key factor influencing this trend is the rebound in US yields, creating a higher opportunity cost for holding non-interest-bearing assets like silver.
Investors are also riding with bated breath on the upcoming US PCE Inflation data. If inflation continues to rise, it could exert downward pressure on precious metals including silver, as it makes dollar-priced commodities more expensive for foreign investors.
All these factors combine to cast a shadow on the short to mid-term prospects of XAG/USD. However, long-term prospects remain uncertain and could be subject to changes in macroeconomic policies and factors. Stay tuned for more detailed analysis in future forecasts. Read More
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