Commodities
Silver Surges to Near $37 Amid US Dollar Drop and Lower Bond Yields
The price of Silver (XAG/USD) has surged to nearly $37 due to a decline in the US Dollar and bond yields.
Lower US bond yields make non-yielding assets like Silver more attractive, which is reflected in its price increase.
Investors are paying close attention to the upcoming August Consumer Price Index (CPI) data for fresh cues on the Federal Reserve's monetary policy outlook.
According to TD Securities, the CPI report is likely to show that underlying inflation remained under control, with core prices rising 0.19% month-over-month and 2.3% year-over-year.