XAG/USD remains range-bound ahead of key Fed remarks that could sway USD strength and non-yielding asset demand.
Silver (XAG/USD) edged 0.35% higher to $68.40 in European trading Thursday but stayed within a $67.35-$70 range this week. The metal lacks clear direction as investors await Federal Reserve Chairman Kevin Warsh’s speech at the Jackson Hole Symposium Friday.
Fed Chair Warsh previously emphasized the central bank’s commitment to reducing inflation to its 2% target without providing forward guidance. Markets expect his remarks to clarify the US interest rate outlook, with potential USD strength weighing on silver’s appeal as a non-yielding asset.
Technical analysis shows XAG/USD maintaining a bullish bias above its 20-day EMA at $65.34, though near-term momentum remains constrained by Fed policy uncertainty.