Silver price (XAG/USD) recovers some lost ground around $21.00 during the early European session on Tuesday. However, the upside of the silver price s
The upbeat US data lifted the USD broadly and weigh on the XAG/USD.price recovers some lost ground around $21.00 during the early European session on Tuesday. However, the upside of the silver price seems to be limited. The firmer US Dollar and higher US Treasury yields are the main factors that exert some selling pressure on XAG/USD., a measure of the value of the USD relative to a basket of foreign currencies, climbs to 107.20, the highest level since November last year.
Traders will focus on the US JOLTS Job Openings for August due on Tuesday. Later this week, the US ISM Services PMI and ADP report will be released on Wednesday. The highlight of the week will be the USFrom the technical perspective, silver price holds below the 50- and 100-hour Exponential Moving Averages with a downward slope on the one-hour, which means the path of the least resistance is to the downside.
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