Silver Price Analysis: XAG/USD dives as investors digest Powell’s words, US data

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• The Silver’s spot price XAG/USD is down by more than 1%, around $22.30.
• Jerome Powell from the Fed was seen as hawkish on Thursday, fuelling US bond yields.
• Markets are pricing in rates at restrictive levels for a more extended period.
• UoM Consumer Sentiment data from the US came in lower than expected.

At the end of the week, the XAG/USD plunged toward $22.30 and will close a 3% weekly loss, mainly driven by the US Dollar and yields recovering through the week, which pushed the metal’s price downwards.