Silver Price Analysis: XAG/USD tanks as the US Dollar stages a comeback, despite poor US data

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• XAG/USD drops from around $25.40s to $24.10s as US inflation cools and the labor market eases.
• The RSI indicator and 3-day RoC portray a bearish outlook for Silver, with the 200-DMA on sight.

Silver price plummets across the board, as data from the United States (US) showed that inflation is cooling down, while the labor market commences easing amidst US Federal Reserve (Fed) officials complaining about its tightness. US Treasury bond yields drop, but the US Dollar (USD) rises to new weekly highs, a headwind for XAG/USD prices. At the time of writing, the XAG/USD is trading at around $24.20, slides 4.50%.