Silver Price Analysis: XAG/USD Outshined Gold, Hovered Near Year-To-Date Highs Despite High US Yields

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  • Silver's bullish streak led the metal above the $25.00 level, as it defied broader market trends with over 1.40% gains.
  • A new year-to-date high at $25.44 highlighted the XAG/USD pair's resilience, with the $26.00 mark in sight as the next level of resistance.
  • Should silver retreat below $25.00 in the coming days, a move towards $24.50 and potentially $24.01 could unfold, testing buyer strength.

On Friday, the price of silver shined and registered solid gains of more than 1.40%, as it shrugged off gold’s two consecutive days of losses. It rose approximately 1.52%, as it recently traded at around $25.18 as of the time of writing. The XAG/USD duo advanced even though the greenback remained strong, underpinned by high US Treasury bond yields.


XAG/USD Price Analysis: Technical Outlook

During the trading session, silver printed a new year-to-date high of $25.44, but the advance toward the $26.00 mark was capped by an up-slope support trendline that turned into resistance. That sent XAG/USD retreating toward recent price levels. Nevertheless, the Relative Strength Index (RSI) indicator was still bullish, indicating that bullish momentum remained in charge, and the $26.00 resistance level could be up for grabs in the coming days.

On the other hand, if XAG/USD could fall below the $25.00 mark, sellers could launch an assault towards the $24.50 area, followed by the March 12 daily low of $24.01.


XAG/USD Price Action – Daily Chart

(Click on image to enlarge)


XAG/USD Technical Levels


More By This Author:

Gold Weakens Following US PPI And Retail Sales, Rate Cut Hopes Fade
GBP/JPY Price Analysis: Dipped Below 190.00 As Bears Regained Control
Silver Price Analysis: XAG/USD Held Near Year-To-Date High Around $24.50

Disclaimer: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only ...

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