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The China Earthquake Networks Center officially reported that a 5.8-magnitude earthquake occurred at 11:34 a.m. on July 28 in Xinghai County, Hainan Prefecture, Qinghai Province (35.35 degrees north latitude, 99.58 degrees east longitude), with a focal depth of 10 kilometers.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 5.9 occurred near Xinghai County, Hainan Prefecture, Qinghai Province (35.39°N, 99.57°E) at 11:34 on July 28. The final result is subject to the official rapid report.The China Earthquake Networks Center officially reported that a 5.7-magnitude earthquake occurred at 11:16 a.m. on July 28 in Xinghai County, Hainan Prefecture, Qinghai Province (35.35 degrees north latitude, 99.57 degrees east longitude), with a focal depth of 10 kilometers.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 5.8 occurred near Xinghai County, Hainan Prefecture, Qinghai Province (35.39°N, 99.67°E) at 11:16 on July 28. The final result is subject to the official rapid report.On July 28th, at the 2026 Design Automation Conference, domestic EDA company Chip and Semiconductor, in collaboration with Lenovo Group, released the latest achievements of EDA Agent, which has opened up a closed loop of AI design for the entire process of PCB R&D from design to simulation verification. It has been implemented in Lenovos AI PC motherboard PCB R&D, improving automated library building efficiency by 50% and SERDES full-link optimization simulation optimization efficiency by more than 80%.

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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