XAGUSD Chart Technical Outlook consolidates gains above $24.38 awaiting US data, Silver’s positive tone from last week’s lows remains intact, as precious metals appreciated further following weak US employment data on Tuesday, which cooled hopes of another Fed hike in Autumn.
XAG/USD is consolidating gains on Wednesday’s European session, with investors awaiting a string of US data, with a special interest on the US ADP, but also in the Personal Consumption expenditures and housing prices to confirm that view,
Soft US data would hurt the USD and give a fresh impulse to precious metals, pushing Silver toward $25.24 and $26.25. Supports are $24.38 and $23.75.
