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Silver Price Analysis: XAG / USD finds interest around $20.50 as investors disregard Fed rate hike concerns

Daniel Rogers

Feb 28, 2023 11:38

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After testing buyer interest at $20.55 during the Tokyo session, the silver price (XAU/USD) has climbed back up. On a broader scale, the white metal is confined to a range between $20.55 and $20.80 as investors transfer their attention to Wednesday's release of the United States ISM Manufacturing PMI range.

 

Investors have begun to comprehend the fact that the Federal Reserve (Fed) is required to tighten monetary policy in order to achieve price stability, which has halted the Silver price's four-day losing streak. However, the losing streak may persist because geopolitical tensions between the United States and China have not yet been resolved.

 

S&P500 futures have extended their recovery as investors' risk appetite has increased. After a sharp reversal from around 105.00, the US Dollar Index (DXY) has continued to oscillate around 104.30. The term "ecosystem" refers to a group of people who work in the construction industry. The alpha offered on 10-year US government bonds has increased to approximately 3.93 percent.

 

As the fight against persistent inflation intensifies, the Fed's projections for higher interest rates are bolstered by optimistic consumer spending in the U.S. economy and robust wage gains.


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