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On August 24th, according to foreign media reports, ExxonMobil stated in a statement that a fire in the laundry room of a floating vessel off the coast of Guyana forced the company to temporarily suspend operations at the facility. The statement said the fire on the Liza Unity floating production storage and offloading (FPSO) unit was quickly extinguished. An ExxonMobil Guyana spokesperson said that crude oil unloading operations were affected due to the temporary shutdown. The Liza oil field is key to Guyanas transformation into a major crude oil producer, and the Liza Unity FPSO is responsible for producing approximately 250,000 barrels of crude oil per day of the more than 900,000 barrels per day in the Stabrok block.According to Al Jazeera: Israeli airstrikes near a hospital in Gaza have injured several people.1. Hugging Face reportedly attracts at least $13 billion in acquisition interest. 2. The second World Humanoid Robot Games will hold multiple events. 3. Nvidia reportedly notified customers of a price increase of over 15% for AI-related products. 4. Alibaba plans to place HK$80 billion in new shares, with all proceeds going towards AI. 5. The Change 7 mission does not meet launch requirements and cannot be carried out within the scheduled launch window this year. 6. Trump: Communities that refuse to plan and build data centers are making a mistake. On August 24th, according to Axios, US President Trump defended the expansion of data centers in an interview broadcast on Sunday. He stated that data centers do not draw power from the grid. Trump said, "People are building their own power plants, the most beautiful power plants youve ever seen." He added, "Communities that arent building data centers are making a mistake," because data centers create "a lot of jobs and economic benefits." His remarks came as the Texas governor stated that data center companies are "digging their own graves" and instructed state regulators to require data centers to fully bear the construction costs of their required power infrastructure; meanwhile, the Pennsylvania governor introduced related restrictions, and the New York governor ordered a one-year halt to the construction of hyperscale data centers. Meanwhile, the Trump administration has taken steps to relax some environmental requirements for data centers while urging technology companies to bear more of the electricity costs associated with artificial intelligence construction.According to foreign media reports, soybean oil futures on the Chicago Board of Trade (CBOT) continued to rise in the week ending August 21, 2026, with the benchmark December contract closing 0.9% higher. This reflected soaring crude oil prices, declining soybean oil inventories, and disruptions to Black Sea vegetable oil exports. However, Midwest surveys showed that soybean yield potential was higher than government expectations, unlocking oil-meal arbitrage opportunities and limiting the upside potential of the soybean oil market. International crude oil prices surged, reaching their highest closing price in a month, due to US President Trumps threat to impose economic sanctions on Irans trading partners, raising market expectations of tighter supplies in the coming weeks. Stronger crude oil prices typically boost demand for biofuels, and soybean oil is a key raw material for biofuel production. Meanwhile, the escalating conflict between Russia and Ukraine disrupted exports from Black Sea ports, interrupting sunflower oil exports from the region and forcing buyers to turn to other edible oils such as soybean oil, also supporting the Chicago soybean oil market.

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

Alina Haynes

Sep 15, 2022 11:43

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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.


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