Silver Price Analysis: XAG/USD rises to highs not seen since May after soft PPI figures from the US

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• The XAG/USD records more than 2% gains on the day, jumping to the $24.70 area.
• Following soft CPI figures on Wednesday, weak PPI on Thursday applied further pressure on the US Dollar.
• Falling US Treasury yields and dovish bets on the Fed allowed precious metals to advance.

The XAG/USD recorded a fifth consecutive day of gains and jumped to its highest level since mid-May towards the $24.70 area. In that sense, following soft Consumer Price Index (CPI) and Produce Price Index (PPI) data from the US, investors refrained from betting on an additional hike from the Federal Reserve (Fed) past July which made the US yields decline across the board.