EUR/USD 1.15394
0.066%
Gold 4176.11
2.426%
Oil 74.590
0.348%
USD/JPY 157.607
-0.086%
GBP/USD 1.34597
0.060%
GBP/JPY 212.142
-0.015%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Frances June industrial production figures will be released in ten minutes.Futures Commentary by Everbright Futures: Geopolitical tensions eased again, and overnight London spot gold rose 0.57%, while SHFE gold closed up 0.87%. The reopening of the Strait of Hormuz raised concerns, causing oil prices to fall rapidly. Additionally, the US June JOLTS job openings fell more than expected. Gold may maintain a bottoming-out trend in the short term, with attention focused on Fridays non-farm payroll data. On the macroeconomic front, US June JOLTS job openings fell to 7.36 million from 7.54 million in May, below the expected 7.45 million, indicating a relatively stable labor market. The president of the Philadelphia Fed, a 2026 voting member of the Federal Reserve, stated that he remains open to the direction of monetary policy, and whether core inflation can continue to decline is a key factor in his judgment. Geopolitically, US-Iran negotiations continued to release easing signals, and expectations for the reopening of the Strait of Hormuz increased. While the US-Iran geopolitical situation continued to ease, the US dollar weakened, and although gold performed relatively strongly, it still exhibited a weak bottoming-out trend, failing to give the market stronger confidence. This may stem from investors apprehension about the upcoming non-farm payroll data.Japans Topix index rose 2%.SpaceX shares fell 7% on Tradegate, roughly in line with its after-hours performance on the US stock market.On August 5th, the Shanghai Headquarters of the Peoples Bank of China (PBOC) held its 2026 second-half work conference on August 4th. The conference emphasized that the PBOC Shanghai Headquarters should earnestly implement the moderately loose monetary policy and actively encourage financial institutions to tap into effective credit demand. It should make good use of various structural monetary policy tools. It should implement the "Five Major Articles" (1+N) series of financial policies. It should promote the continued effectiveness of the "Technology Board" in the bond market in Shanghai. It should steadily deepen financial reform and opening up, and build a sound foreign exchange management system. It should implement new policies on high-level opening up of cross-border trade and investment financing, overseas lending, and overseas listing. It should enhance the exchange rate hedging capabilities of SMEs. It should coordinate the promotion of cross-border finance and offshore finance, and accelerate the implementation and effectiveness of the comprehensive reform pilot program for offshore business financial services. It should promote the application of digital RMB scenarios and the construction of its ecosystem. It should continue to carry out local legislation in the financial field. It should continuously improve the systemic risk prevention and mitigation mechanism. It should strengthen the crackdown on illegal financial activities. It should continuously improve the macro-prudential management mechanism framework. It should comprehensively improve the level of cross-border financial risk monitoring.

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