Category: Silver Price News
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XAG/USD Soars to Nearly $27.00 as Odds of Fed Rate Cut Increase
Key Takeaways Silver prices are on the rise due to expectations of a deeper rate cut by the US Federal Reserve in September. The CME FedWatch tool indicates a high probability of a 50-basis point Fed rate cut in September. Geopolitical tensions in the Middle East are supporting safe-haven demand for precious metals like Silver.…
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Bearish turn: XAG/USD edges lower
Key Takeaways: Silver price dropped below $27.00 for the second consecutive day, closing lower. Bearish momentum continues with key support at $26.00 and a possible test of the 200-DMA at $26.04. Important resistances to monitor include $27.00, $28.00, 100-DMA at $28.69, $29.00, and 50-DMA at $29.63. XAG/USD Price Analysis Silver price saw a decline of…
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Gold and Silver Prices Tumble During Market Turbulence and Economic Concerns
Key Takeaways: Gold and silver prices experienced significant declines due to market turbulence and geopolitical tensions. Global markets, including the Nikkei 225 and Dow Jones Industrial Average, were impacted by the selloff in precious metals. Economic data pointing towards a risk of recession in the United States and rising geopolitical tensions further contributed to the…
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XAG/USD takes a steep dive, sparking bearish trend with over 4.50% drop
Key Takeaways: Silver price falls below 100-day moving average ($28.67) to trade at $27.23. Technical indicators suggest further declines with key supports at $27.00 and 200-day moving average at $26.02. For recovery, silver needs to regain $28.00 with resistances at $29.22 and $29.79. XAG/USD Price Forecast: Technical Outlook Silver’s price dropped below the 100-day moving…
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Unveiling Silver Price Potential in 2024 with Choratas Estates LLC
**Key Takeaways:** – Silver is forecasted to outperform gold in terms of price growth in 2024. – Global silver demand is expected to increase by 16% in 2023, creating a supply deficit of 194 million ounces. – The silver market is tight, with potential for a significant shortage of precious metals in the near future.…
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Today’s Price Surge: Gold and Silver Skyrocket on MCX, August 5, 2024
Key Takeaways Both gold and silver prices saw an increase on the Multi Commodity Exchange (MCX) on Monday, August 5, 2024. Gold futures for October 4, 2024, rose by 0.89% to Rs 70,412 per 10 grams on the MCX. Silver futures for September 5, 2024, increased by 1.03% to Rs 83,344 per kg on the…
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Recent Surge in Demand for Silver ETFs – Commerzbank Reports
Key Takeaways: Commerzbank’s commodity analyst Carsten Fritsch notes that the price of silver is still far below its multi-year high recorded in May. Despite a recent price increase, the Gold/Silver ratio remains high at 85. ETF investors have shown interest in silver due to its relatively low price, with strong inflows recorded since mid-July. Current…
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XAG/USD Surges to $29.20 as US Labor Market Slows
Key Takeaways: Silver price hits a weekly high at $29.20 as weak US NFP data impacts US yields. Investors anticipate the Fed to pivot towards policy normalization in September. Factors such as labor demand, wage growth, and interest rates influence Silver price movements. Silver Price Movement: Silver price reached a weekly high of $29.20 following…
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Unlocking the Treasure: Silver Prices Skyrocket by 21.46% this Year
**Key Takeaways:** – The price of silver is currently trading at $29.06 per ounce, showing a 21.46% increase year to date. – This increase in the price of silver may be influenced by various factors such as market demand, economic conditions, and geopolitical events. – Investors may consider silver as a potential investment option due…
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XAG/USD Holds Steady at Opening Price, Waiting for Action
Key Takeaways: Silver hits a weekly high of $29.22 before stabilizing at $28.49, down 0.02%. Technical outlook suggests a rally to $29.00 and $29.50 if Silver closes above the 100-DMA ($28.69). A bearish scenario may occur if XAG/USD falls below $28.00, targeting $27.95, July 29 low ($27.31), and 200-DMA ($26.00). XAG/USD Price Analysis: Technical Outlook…
