Silver Price Forecast: XAG/USD Climbs Amid Safe-Haven Demand

Silver, Bars, 5000 Grams, Real Value

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Silver prices advanced by 0.81% late in the North American session on Tuesday, as market participants seeking security bought precious metals like XAU and XAG, which are posting solid gains. XAG/USD trades at $30.42 a troy ounce at the time of writing.


XAG/USD Price Forecast: Technical outlook

The daily chart suggests Silver is consolidated and found support at the 200-day Simple Moving Average (SMA) at $30.08. Although XAG/USD has carved successive series of lower highs and lower lows, hinting at a short-term downtrend, bears must clear the December 19 swing low of $28.74 to shift the bias downwards.

For a bullish continuation, XAG buyers must clear dynamic resistance at $30.28, where the 50-day SMA resides, followed by a challenge of the 100-day SMA at $30.99. Once those levels are taken out, bulls could challenge December’s 2024 peak at $32.32.


XAG/USD Price Chart – Daily

(Click on image to enlarge)


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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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