Monday, October 18, 2021


XAG/USD retains hovering above $23.00

Silver futures, buying and selling flat close to one-month highs at $23.55. Treasured metals stay weighed amid larger US T-Bond…

By Staff , in Silver , at October 18, 2021


  • Silver futures, buying and selling flat close to one-month highs at $23.55.
  • Treasured metals stay weighed amid larger US T-Bond yields.
  • XAG/USD: Constructive whereas above $23.00.

Silver futures have been buying and selling with no clear route on Monday, regular above $23.00, and a brief distance to one-month highs at $23.55. Upside makes an attempt, nonetheless, have been capped beneath $23.45, because the US greenback stays agency amid larger US T-Bond yields.

Fed tapering expectations weigh on metallic costs

Silver and different treasured metals have opened the week on a barely adverse tone, with the US greenback supported by larger US Treasury bond yields. Traders’ expectations of an upcoming announcement of QE tapering, and rising hypothesis about larger rates of interest in 2022 are pushing US bond yields larger, making the US greenback a extra enticing hedge from inflation than treasured metals.

The US 10-year yield has ticked as much as 1.57% from 1.55% on Friday, whereas shorter-term notes, such because the 5-year yield surging to 20-month highs at 1.19% after having rallied for the final two weeks.

XAG/USD: stays optimistic whereas above $23.00

From a technical perspective, the pair stays optimistic above earlier highs, at $23.00, with the give attention to the September 14 and 15 highs, at $23.55 September 16 excessive at $24.00.

On the draw back, a reversal beneath $23.00 (September 22, October 8 highs) would possibly ease bullish strain, and open the trail in the direction of 22.20/35 (October 6 and 12 lows) forward of year-to-date lows at $21.40.

Technical ranges to observe

 

 



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