Silver (XAG/USD) price halted its three-day losing streak, trading near $31.90 per troy ounce during the US session on Wednesday (4/26). Technical analysis on the daily chart shows a growing bearish outlook, with the metal trading below the lower boundary of its ascending channel pattern. Source: Newsmaker.id
Geopolitical instability or fears of a deep recession could see Silver prices rise due to its safe haven status, albeit to a lesser extent than Gold. As a non-yielding asset, Silver tends to rise with lower interest rates. Its movement also depends on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong dollar tends to hold Silver prices down, while a weaker dollar tends to push prices up. Other factors such as investment demand, mining supply, Silver being much more abundant than Gold and recycling rates can also affect prices. Until this news was released,...
Gold slumped below $2,900 an ounce on Thursday, extending its decline from Monday's record high of $2,950, pressured by a stronger U.S. dollar. Meanwhile, investors are also assessing uncertainty over tariffs ahead of key U.S. data. On Wednesday, President Trump added to the confusion over tariff prospects for Canada and Mexico, suggesting they would take effect on April 2 instead of the previously set March 4 deadline, while also proposing a "reciprocal" 25% tariff on cars and European Union goods. Markets are also closely watching a slew of U.S. economic data due later in the day,...