Silver Technical Analysis: Silver price is displaying a consolidation formed in a range of $20.20-20.85 after a sheer perpendicular downside on an hourly scale. The asset looks vulnerable as the 20-period Exponential Moving Average (EMA) at $20.70 is acting as a barricade for the Silver price.
inflation
US inflation expectations probe greenback bulls
As markets await Federal Reserve (Fed) Chairman Jerome Powell’s reaction to the recently hawkish US data, sluggish inflation expectations seem to challenge the US Dollar Index (DXY) bulls during early Monday in Asia, following a two-day rebound from the multi-month low.
Currencies Report: Central Banks Are Noisy Ahead of US Inflation Data
US Inflation Data: The American Dollar finished Wednesday little changed, despite some noise coming from major central banks. Investors await US inflation data, which could provide fresh clues on where the US Federal Reserve is heading next
Gold Holds Near September High as Dollar’s Retreat Stretches
Gold held near its highest level this month, as the dollar continued its retreat on more hawkish rhetoric from the European Central Bank and expectations that inflation may have peaked in the US.
MCX Gold Price to Trade Sideways, Trading Zone 49900 To 51300
MCX Gold Price to Trade Sideways: MCX Bullion prices ended higher, reporting the first weekly gain in the last four weeks supported by dollar decline and safe haven buying. The traders and investors weighed on the dollar dragging down from 20 year highs over inflation worries and slowdown fears.
Powell’s New Guidance: Higher Rates for Longer to Beat Inflation
Federal Reserve Chair Jerome Powell issued a fresh warning to investors doubting his resolve to fight inflation: interest rates are heading higher and will stay there “for some time.”
Gold Price Forecast: China Can Recover From The crisis of Recession
Gold Price Forecast: Expectations that China may overcome the recession woes and Fed’s Powell may repeat his cautious statements at the Jackson Hole also seemed to have tested the DXY bulls. “Various Chinese state media agencies are coming to the rescue of the local currency, the yuan, after the recent depreciation, justifying that the country’s strong exports should offset a stronger dollar and hawkish Fed rate hikes,” mentioned Reuters on Wednesday. Concerns about China become important for gold traders due to the dragon nation’s status as one of the world’s largest gold consumers.