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A survey by the Central Bank of Russia predicts that the average benchmark interest rate will be 14.5% in 2026 (unchanged from previous forecasts).On September 2nd, Federal Reserve Chairman Williams stated that bond yields are an important indicator for the Feds assessment of the economic situation. The recent rise in yields was primarily driven by strong economic performance, an optimistic economic outlook, and robust investment demand, with some correlation to the Middle East conflict. However, yields currently do not appear to be significantly affected by the inflation outlook. Williams emphasized that the Fed will consider all economic data comprehensively, and its ultimate responsibility remains price stability, with reducing the inflation rate to 2% being the top priority. Tariffs and the Middle East war are the main factors contributing to current inflation exceeding the target, but a second-degree inflation effect from tariffs has not yet been observed. Inflation expectations remain under control, and recent inflation data is encouraging, showing an overall downward trend, although inflation in the services sector remains significantly high. He stated that the labor market is stable and remains robust, and it is necessary to push inflation back to 2% in the foreseeable future. He hopes to further observe and analyze economic data before making the next policy decision and will continue to gather information for the next FOMC meeting. Williams expressed support for the decisions of the July FOMC meeting, believing that the current interest rate level is appropriate and monetary policy is progressing smoothly.Tensions in the Middle East remain high, with Brent crude oil prices nearing the $96 mark during trading. A chart provides a quick overview of the pre-market conversion prices of crude oil between domestic and international markets.The US August ADP employment figures were released, showing the smallest increase since January and falling short of market expectations. A quick chart provides a view of the converted prices of gold and silver in the pre-market session.Syria has confirmed to the International Atomic Energy Agency that it will participate in a briefing on nuclear issues from September 7 to 11.

Silver Price Prediction - Silver Price Increased Due to Weak Dollar

Alina Haynes

May 12, 2022 11:03

On Wednesday, silver prices increased alongside the other precious metals. As yields decreased, the dollar declined. In spite of stronger-than-anticipated headline and core CPI reports, Benchmark rates declined today. Gold prices rose as the currency weakened.

CPI Rose Greater Than Anticipated

Wednesday, the U.S. Labor Department revealed April's CPI. The headline CPI came in at 8.3%, slightly lower than March but higher than the 8.1% experts had predicted. The study also revealed that the core CPI, excluding food and energy, rose by 6.2% year over year, which was greater than anticipated. The month-over-month growth also exceeded projections. The Bureau of Labor Statistics (BLS) stated that April inflation grew 0.3% on the headline CPI, compared to the 0.2% expected, and 0.6% on the core CPI, compared to the 0.4% expected gain.

Technical Evaluation

After falling, silver prices recovered, reclaiming short-term support near the September lows at 21.42.

 

Near the 20-day moving average of 23.52, there is observed to be resistance. The 20-day moving average has fallen below the 50-day moving average, indicating a medium-term decline. As indicated by the fast stochastic crossover buy signal, near-term momentum has turned positive. Prices are oversold since the fast stochastic is displaying a value of 13 below the oversold threshold of 20.

 

The medium-term momentum has become negative as the histogram and MACD both print in a negative direction (moving average convergence divergence). The MACD histogram is moving in a negative direction, reflecting the downward trend in price movement.

 

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