Global Market Movers: Comex Silver price rises above $28.00

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  • Silver price follows the rally in gold as global central banks increase their reserves.
  • The price of Silver has advanced to its highest level since June 2021.
  • The eased geopolitical situation in the Middle East could limit the advance of Silver price.
  • The demand for non-yielding assets like Silver is bolstered as US Treasury yields correct after two days of gains.
  • The industrial outlook for metals received a boost from strong manufacturing data from top consumer China and projections for increased solar installations.
  • Traders eagerly await the release of the US Consumer Price Index inflation data  due on Wednesday for a fresh US Dollar price action, eventually impacting XAG/USD.

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