Silver bulls are anticipating stronger highs in the coming sessions.
The week ahead will be dominated by US statistics, particularly CPI.
Silver closed the New York session on the bid and starts the Tokyo session 0.23 percent higher, correcting from the current daily negative impulse.
XAG/USD gained from a low of $25.87 to a high of $26.28, which bulls will try to break on their way to the 20-day EMA near $26.34.
Meanwhile, the dollar index DXY, which measures the greenback against a basket of six currencies, surged to a high of 92.420 from a low of 92.0830, posing a potential stumbling block. Last week’s 3-month high of 92.844 will be a target for bulls.
The major attention this week will be on US inflation data on Tuesday and Federal Reserve Chair Jerome Powell’s economic speech on Wednesday and Thursday, given that Fed members agreed in June that they should be ready to act if inflation or other concerns arose./n
