EUR/USD 1.17260
1.549%
Gold 4003.94
0.678%
Oil 64.710
8.945%
USD/JPY 153.423
0.239%
GBP/USD 1.31606
0.177%
GBP/JPY 201.889
0.419%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to sources, members of the Irish Football Association have approved a resolution calling on UEFA to suspend Israels participation in European competitions.On November 8th, the Russian Ministry of Defense reported that Russian armed forces launched a large-scale attack on Ukrainian military-industrial enterprises and related energy facilities using high-precision weapons from the night of November 7th to the early morning of November 8th, hitting all targets. The report stated that the high-precision weapons used by Russia included the Kinzhal hypersonic ballistic missile. Russian air defense systems shot down 178 Ukrainian drones and two guided-missile bombs in the past 24 hours. According to reports from the Ukrainian Air Force and various levels of government agencies on November 8th, from the night of November 7th to the early morning of November 8th, Russian forces launched a large-scale missile and drone attack on Ukraine, damaging energy and railway facilities in Poltava, Kharkiv, Kyiv, and Dnipropetrovsk regions. Emergency power outages were implemented in multiple areas, including Kyiv, Kyiv, and Kharkiv. As of the morning of November 8th, the attacks had resulted in four deaths. The Ukrainian State Electricity Company posted on social media that day that several Ukrainian regions were experiencing emergency power outages due to the airstrikes, and industrial users continued to experience power rationing.Egypts Ministry of Petroleum: A new shipment of liquefied natural gas, amounting to 150,000 cubic meters, has been exported to Greece via a vessel chartered from Shell.On November 8, Chicago Mayor Brandon Johnson addressed the UN Human Rights Council on November 7. Johnson stated that the US federal governments refusal to accept review by the Human Rights Council was an attempt to evade scrutiny. He argued that the Human Rights Council should apply the same accountability standards to the US federal government as it does elsewhere in the world, and that no country is above international law. Johnson called on the Human Rights Council to send independent experts to Chicago to investigate the challenges facing the city; he also urged the Council to take further accountability measures, including convening a special session to investigate the worsening human rights crisis in the United States. The UN Human Rights Council was scheduled to hold its fourth round of Universal Periodic Review (UPR) on November 7, but the US representative refused to attend, preventing the review from proceeding normally. The Human Rights Council adopted a decision that day urging the United States to resume cooperation with the UPR mechanism.Russian Ministry of Defense: Russian troops have occupied the village of Vovche in the Dnipropetrovsk region of Ukraine.

Silver Prices Face Downward Pressure Due to Growing Concerns About Inflation and a New Sanction on Russia

Drake Hampton

Apr 07, 2022 10:30

Tips

  • Silver prices remained stable due to fears about rising inflation.

  • The dollar strengthens upon the publication of the Federal Reserve's minutes.

  • Benchmark rates have continued to rise at a faster rate than the rate of tightening.

  • Oil prices are falling as the US and EIA pledge to release critical stockpiles.

 

Silver prices fell marginally as concerns about inflation increased as a result of the Ukraine crisis. Benchmark yields increased in response to the Fed's hawkish tone and more active policy. The ten-year Treasury yield increased to 2.61 percent, approaching March 2019 highs. Due to growing risk-averse sentiment, new sanctions on Russia resulted in a surge in gold and silver prices. Oil prices declined 2.2% to $99.73 per barrel as the US committed to deploying 60 million barrels from strategic reserves while EIA members committed to release 120 million barrels. 180 million barrels in total would be released.

 

The March FOMC meeting minutes, released on Wednesday, showed that the Fed intends to begin shrinking the balance sheet by $95 billion per month in May. Treasury securities would be limited to a maximum of $60 billion and mortgage-backed securities to a maximum of $35 billion, which would be phased in over three months. Additionally, the discussion indicated that future meetings would likely include a 50-basis-point hike. Members favored more aggressive maneuvers. Additionally, the Fed raised its inflation forecast and decreased its economic growth forecast.

Technical Evaluation

Silver prices fell to $24.4 per ounce today as increasing inflation offsets negative pressure from aggressive rate hikes and a strengthening dollar. New sanctions against Russia may act as a tailwind due to silver's safe-haven characteristics. Silver is under pressure to fall to the $24.00 level as yields rise and the dollar strengthens. This circumstance may result in a breach below support for XAG/USD. Near the horizontal trendline near 23.6, there is support. Resistance is located near the 50-day moving average, which is located near 24.5. Short-term momentum shifted negative as the fast stochastic crossed below the zero line, signaling a sell signal.

 

The medium-term momentum is negative, as indicated by the histogram's negative correlation with the MACD (moving average convergence divergence). The MACD histogram's trajectory is negative but decelerating, indicating an upward trend in price movement.

 

image.png 

Suggestion