EUR/USD 1.13828
0.056%
Gold 4052.63
0.536%
Oil 67.634
-0.576%
USD/JPY 162.521
-0.037%
GBP/USD 1.32863
0.090%
GBP/JPY 215.935
0.066%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Crude oil futures (2608 contract) fell 5.06% intraday, last trading at 437.1 yuan/barrel, with open interest increasing by nearly 2,700 lots, indicating increased volatility in the market.July 2nd - The revised "Detailed Rules for the Review of Production Licenses for Infant and Toddler Complementary Foods (Draft for Public Comment)" has been released for public comment. The new regulations further tighten licensing requirements and improve product quality. Infant and toddler complementary foods refer to cereal-based complementary foods, canned complementary foods, and nutritional supplements for infants and toddlers aged 6 to 36 months. The revised draft imposes stricter control requirements on the raw materials and ingredients of infant and toddler complementary foods.On the morning of the 2nd, apart from the CCB Energy and Chemical Futures ETF falling by more than 2%, commodity funds such as Huaxia Feed Soybean Meal Futures ETF, Guolian An SSE Commodity ETF, CCB Shanghai Gold ETF, and Dacheng Nonferrous Metals Futures ETF all rose. Among them, Guotou UBS Silver Futures (LOF), Qianhai Open Source Gold ETF, and ICBC Credit Suisse Gold ETF rose by more than 2%.As of 09:30 Beijing time, WTI crude oil futures fell 1.41%, and US natural gas futures fell 0.78%.The Peoples Bank of China (PBOC) announced today that it conducted 288.5 billion yuan of 7-day reverse repurchase operations, with both the bid and winning bids amounting to 288.5 billion yuan. The operating rate was 1.40%, unchanged from the previous rate.

Silver Prices Are Under Pressure as Yields Increase

Larissa Barlow

Apr 22, 2022 09:58

Silver prices have continued to fall as benchmark rates have risen in anticipation of tighter monetary policy. Benchmark rates continue to rise as Fed Chair Powell addresses the International Monetary Fund. This situation has developed as investors express anxiety about rising inflation and a more hawkish monetary policy stance.

 

Gold prices fell as government yields continued to rise and the market became more risk-averse. Oil prices rose higher in a limited range following the IMF's downgrade of economic growth forecasts and supply disruptions from Libya.

 

Weekly unemployment claims totaled 184,000, down 2,000 from the prior week. Dow Jones estimated the number at 182,000. The data indicates that the labor market continues to be tight.

 

Job vacancies and demand for workers outstripped the labor pool. While the job market has improved, it has not yet returned to pre-pandemic levels.

 

The Philadelphia Manufacturing Index, which tracks order placement, delivery timelines, and shipments, was 17.6. This reading indicated a ten-point fall from March. delivery schedules. Manufacturing increased, but at a slower pace than predicted. 

Technical Evaluation

Silver prices are under pressure, lingering near the $26.5 mark, as bearish sentiment continues to weigh on the safe-haven metal. Despite growing inflation, silver prices continue to decline. A recovery attempt may run into opposition at the critical psychological level of $25.00, but an upward advance will be met with additional selling.

 

Support is located near the low of April 5th, around $24.25. Resistance is located near the $25.30 10-day moving average. Short-term momentum is bearish, as the fast stochastic has crossed below the zero line, signaling a sell signal.

 

The medium-term momentum has shifted to the downside, as evidenced by the histogram's negative correlation with the MACD (moving average convergence divergence). The MACD histogram's trajectory is negative, indicating a downward trend in price movement.

 

image.png 


Suggestion