Silver (XAG/USD) recovered from early losses and rebounded near $36.70 from an intraday low of $36.30 during European trading hours on Tuesday (6/10). The white metal recovered amid uncertainty over the outcome of the trade talks between the United States (US) and China in London, which have entered their second day.
During European trading hours, the White House has hinted that trade discussions between the two countries are going well and negotiations will continue throughout the day.
Theoretically, optimism over the Sino-US trade talks will reduce demand for safe-haven assets, such as Silver.
Meanwhile, the US Dollar Index (DXY) is trading quietly around 99.70, awaiting the minutes of the US-China meeting.
On the domestic front, investors await the US Consumer Price Index (CPI) data for May, due for release on Wednesday. Inflation data is expected to show that price pressures are growing at a faster pace.
Signs of accelerating inflationary pressures will allow the Federal Reserve (Fed) to keep interest rates at current levels for the sole purpose of gaining traction in a high inflation environment. Higher interest rates by the Federal Reserve (Fed) bodes ill for non-yielding assets, such as Silver. (alg)
Source: FXstreet
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