Silver Price Analysis: XAU/USD reclaims $23.00 level amid choppy, pre-year-end trading conditions By Frank_Macro XAGUSD Silver
Spot silver prices have been choppy over the last few days, swinging between an 80 cents $22.60 to $23.40ish range.
XAG/USD traders should keep their eyes on inflation expectations and real yields in 2022 as the Fed pivots hawkishly. prices have been choppy over the last few days, swinging between an 80 cents $22.60 to $23.40ish range in low liquidity/volume trading conditions. Right now, spot prices are trading slightly to the north of the $23.00 level again for an on-the-day gain of just over 1.0%. That means XAG/USD should end the month also about 1.0% higher, having recovered more than 7.
The divergence between nominal and real yields has seen break-even inflation expectations surge. 5-year breakevens began the week around 2.75% but have surged to close to 2.90%, the highest since 9 December. Whether this translates into a more lasting upturn and a challenge of November highs in the 3.30% area over the course of Q1 2022 remains to be seen, but could be a source of support for precious metals like silver which are seen as an inflation hedge.
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