Silver price (XAG/USD) falls back while attempting to recapture crucial resistance of $29.00 in Friday’s European session.
Silver price retreats from day’s high amid no signs of retaliation from Iran after limited airstrike from Israel. Fed ’s hawkish guidance fails to prompt US bond yields. Fed Williams is comfortable with more rate hikes if inflation remains persistent. Silver price falls back while attempting to recapture crucial resistance of $29.00 in Friday’s European session.
On Thursday, New York Fed President John Williams said he doesn't see urgency for rate cuts and warned that the central bank is ready to hike again if data suggests persistent price pressures. The US Dollar Index holds the 106.00 ground as Fed policymakers support keeping interest rates higher due to stubbornly high inflation, which has been fed by tight labor market conditions.
XAGUSD Fed Inflation Supportresistance Silver
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