Silver price (XAG/USD holds onto Thursday’s recovery near $57.60 during the European trading session on Friday. The white metal rebounds as the US Dollar (USD) is under pressure due to Artificial Intelligence (AI)-driven risk-off.
As of writing, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades 0.1% lower to near 101.90. The USD Index has corrected sharply in the past two days from its over-a-year high of 102.95 posted after the United States (US) Consumer Price Index (CPI) data release.
Technically, a lower US Dollar makes the Silver price an attractive risk-reward bet for investors.
USD rally questioned as Fed risks, earnings and politics weigh
Economists at DBS Group Research argue that the market reaction to the latest upside surprise in US CPI has exposed cracks in the Dollar’s recent advance. They note that the “USD’s…
