EUR/USD 1.16940
0.138%
Gold 4561.42
0.936%
Oil 85.936
0.015%
USD/JPY 158.891
-0.101%
GBP/USD 1.36434
0.100%
GBP/JPY 216.786
0.009%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Hong Kong-listed MINIMAX-W and its two leading model stocks saw short-term rallies, with Zhipu (02513.HK) rising over 11% and MINIMAX-W (00100.HK) rising over 14%.Iranian Parliament Speaker Qassem Ghalibaf: Security and the economy are complementary and indispensable. Developing bilateral relations between Iran and Iraq by formulating a precise roadmap can have an impact on the region and on Islamic countries, especially Arab countries.On August 21, UN Secretary-Generals spokesperson, Stéphane Dujarric, stated on August 20 that the conflict in the Gulf region is having a real impact on the global economy, affecting shipping in the Strait of Hormuz, as well as freedom of navigation in the Bab el-Mandeb Strait, the Gulf of Aden, and all the way to the Red Sea. The UN urged all parties to return to negotiations, emphasizing that further escalation, whether military action or economic confrontation, would not yield positive results.August 21st - Despite a slight decrease in the UK governments budget deficit in the first four months of the current fiscal year, borrowing in July was still higher than the same period last year due to increased spending exceeding record income tax revenue. The UK Office for National Statistics said on Friday that the governments budget deficit was £1.8 billion (approximately $2.45 billion), an increase of £700 million from July 2025. So far this fiscal year, total government borrowing has reached £56.7 billion, a decrease of £6 billion from the same period last year, but £2.3 billion higher than the forecast published by the Office for Budget Responsibility.Hong Kong stocks rose in the afternoon, with the Hang Seng Tech Index up 1% and the Hang Seng Index up 0.93%. MINIMAX-W (00100.HK) led the gains among constituent stocks, rising 11.7%.

Forecast for Silver Price: XAG/USD is rising quickly and is approaching the $20.00 mark

Alina Haynes

Sep 15, 2022 11:43

 157.png

 

Silver price recovers around the 50-day exponential moving average and advances towards a daily high of $19.69 on Wednesday after the US Labor Department reported that August PPI was in line with predictions of diminishing inflationary pressures on the producer side. Therefore, the XAG/USD is trading at $19.61, 1.86% higher than its initial price.

 

Before Wall Street opened, the Bureau of Labor Statistics (BLS) of the United States reported that the Producer Price Index (PPI) for August decreased by 0.1%, in line with expectations, while the year-over-year figure fell to 8.7%, less than the 9.8% reported in July. Meanwhile, the so-called core PPI, which excludes volatile goods, increased by 0.4% month-over-month and 7.3% year.

 

In the meantime, the US Dollar Index, a measure of the dollar's value against a basket of six currencies, ended Wednesday's session down 0.15 percent, at 109.648, weighed down by US Treasury yields, particularly the 10-year benchmark note rate, which remained unchanged throughout the day at approximately 3.404%.

 

The US Dollar Index reflects the aforementioned by declining by 0.09% and falling below the 110.000 barrier. Similarly, the US 10-year benchmark note rate exhibits signs of weariness, remaining flat at approximately 3.414%.

 

The fact that US 10-year TIPS yields, a proxy for actual yields, rose by only one basis point to 0.939% was a further factor supporting the white metal price.

 

On Thursday, the US economic calendar will contain jobless claims, retail sales, and the New York and Philadelphia Fed Manufacturing Indices, which will serve as a precursor to the ISM report in October.

 

The daily XAG/USD chart depicts the white metal as neutral to bearishly biased. Nonetheless, if silver buyers recapture the $20,000 threshold, this might pave the way for a test of a four-month-old downslope trendline near $20.20 prior to reaching the 100-day EMA at $20.39. A breach of the latter will reveal the cycle high from August 15 at $20.87, ahead of the psychological milestone of $21.00.


Suggestion