Silver Price Analysis: XAG/USD threatens the 200-day SMA ahead of eventful week

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• The XAG/USD gained ground rising towards the 200-day SMA seeing more than 2% daily gains
• The 20-day SMA is about to cross below the 200-day SMA; further downside may be on the horizon. 
• Rising US yields may limit the silver´s upside.

The XAG/USD rose near the 200-day Simple Moving Average (SMA) towards the $23.20 area, mainly driven by a softer USD. Investors await Thursday’s annual Jackson Hole Symposium, which may cause volatility in bond markets and the Silver price dynamics. As for now, US yields are rising, limiting further Silver´s gains.