Because of declining US Treasury bond yields, silver prices are trading at fresh monthly highs above $24 per ounce. At the time of writing, silver is trading at $23.974 at the time of writing.
US markets are expected to end the month with gains as sentiment continues to be the session’s primary driver. The XAG/USD is now up 0.89%, trading at $24.10 at the time of writing.
Although Collins stressed that the Fed still has work to do, he appreciated the inflation statistics. Wall Street is still printing gains on all fronts. US data that indicated inflation moderating put pressure on the dollar; as a result, the US Federal Reserve (Fed) should be less aggressive.
The Core Personal Consumption Expenditure (PCE), the Fed’s favoured inflation indicator, increased by 4.6% YoY in February, below predictions of 4.7%, while headline inflation decreased from 5.3% to 5% YoY.
The result was a little decline in US Treasury bond yields, which helped the white metal move beyond $24.00 for the first time since February 2. At 3.516%, the US 10-year Treasury bond yield decreased by four basis points (bps), and as of March 30, US Real Yields were 1.26%.
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