Silver price surged on Thursday and gained over 3.50% as traders reclaimed the $27.00 figure although strong US data, bolstered the Greenback.
Silver trades at $27.49, rising over 3.50% after reclaiming the $27.00 level. Path of least resistance remains bearish; below $27.00 targets $26.45 and $26.11 support levels. Above $27.56, resistance levels are $28.00 and the August 5 high at $28.67. Despite that, the XAG/USD bounced off weekly lows of $26.45 and hit a new weekly high before stabilizing at the current spot price. Silver trades at $27.
Which factors influence Silver prices? Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar behaves as the asset is priced in dollars .
XAGUSD Technical Analysis Silver
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Silver Price Forecast: XAG/USD declines below $27 as demand concerns escalateSilver price (XAG/USD) skids below the crucial support of $27.00 in Tuesday’s European session.
Read more »
Credit Due: The 50 Over 50 Reflects On 50 Years Of Equal Credit Access For WomenVickie Chachere is a temporary reporter on the 50 Over 50. She is a veteran print journalist and editor who lives in Florida.
Read more »
Silver Price Forecast: XAG/USD sinks below $27.00 despite geopolitical jittersSilver's price extended its losses for the third straight day and stayed below $27.00 amid increasing geopolitical fears spurred by the Middle East conflict.
Read more »
Silver Price Analysis: XAG/USD retakes $27.00 mark, upside potential seems limitedSilver (XAG/USD) attracts some dip-buyers near the $26.75 region during the Asian session on Wednesday, albeit lacks bullish conviction and remains confined in the previous day's broader trading range.
Read more »
Silver Price Forecast: XAG/USD remains tepid near $27.00 due to diminished safe-haven appealSilver price (XAG/USD) remains tepid, trading around $27.20 per troy ounce during the Asian session on Tuesday.
Read more »
Forbes and Know Your Value reveal 4th annual ‘50 Over 50’ U.S. listYour career runway is long.
Read more »