Silver Price Analysis: XAG/USD surpasses $23.80 as US CPI cools down significantly – by Sagar_Dua24 Silver XAUUSD Fed DollarIndex Breakouts Silver
Fed Barkin still believes that more interest rate hikes are appropriate for confirmation that inflation will return to 2% target.Silver price has overstepped the crucial resistance of $23.80 quickly as the United States Consumer data for June has landed softer-than-expectations. The monthly headline and core inflation were recorded at a moderate pace of 0.2% against expectations of a 0.3% pace.
Investors would keenly watch commentaries from Federal Reserve policymakers to understand whether the current pace of decline in inflation data is sufficient to discourage the Fed from hiking interest rates further. Considering past commentary from Fed chair Jerome Powell, two more interest rate hikes are appropriate by the year-end.
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