Silver price fell on Wednesday as market participants awaited the release of the Fed’s preferred inflation gauge, the core Personal Consumption Expenditure (PCE) Price Index, after releases from major countries hinted at a reacceleration of inflation. The XAG/USD spot price is at $28.76, down by 0.46%. The grey metal formed a ‘bearish engulfing’ chart pattern last week, indicating potential for further downside. Momentum support sellers, as measured by the bearish Relative Strength Index (RSI), suggest that silver could extend its losses. Therefore, XAG/USD's first support is the June 10, 2021, high at $28.28. A ... (full story)