Silver (XAG/USD) attracts some sellers during the Asian session on Thursday and erodes a part of its weekly gains registered over the past three days.
The white metal currently trades above mid-$32.00s, down 0.35% for the day, though the near-term bias seems tilted in favor of bullish traders and supports prospects for a further appreciating move.
From a technical perspective, the XAG/USD showed some resilience below the 100-day Exponential Moving Average (EMA) last Friday. Moreover, oscillators on the daily chart have again started gaining positive traction on the daily chart and validate the near-term constructive outlook for the commodity.
Hence, a subsequent strength towards the $33.00 mark, en route to the February monthly swing high, around the $33.40 area, looks like a distinct possibility.
The next relevant hurdle is pegged near the $33.60-$33.70 region, above which the XAG/USD could aim to reclaim the $34.00 round figure and climb further towards the $34.50-$34.55 zone.
The momentum could extend further towards the highest level since October 2012, closer to the $35.00 psychological mark touched in October 2024.
Source: FXStreet
Silver futures prices have risen again above $41 per ounce, their highest level since August 2011, as signs of a easing US labor market strengthen expectations of a Fed interest rate cut this year. T...
The Silver price ( XAG/USD) trades in negative territory around $40.65 during the early Asian session on Monday. The white metal retreats from the 14-year-old amid the prospect of a US Federal Reserve...
Silver climbed to around $41.8 per ounce on Friday, holding near its strongest levels since 2011 as signs of a cooling US labor market reinforced expectations for a Federal Reserve rate cut. The lates...
Silver slipped 1% to around $40.7 per ounce on Thursday, easing from 14-year highs as investors locked in profits ahead of key US labor market releases. Precious metals have rallied in recent weeks as...
Silver traded around $40.7 per ounce on Wednesday, lingering at its strongest level since 2011 as fiscal strains, renewed trade tensions and ongoing geopolitical risks lifted safe-haven demand. Suppo...
US stocks were mostly higher on Monday as traders brace for a busy week of economic data ahead of next week's FOMC decision. The S&P 500 rose 0.2% and the Nasdaq gained 0.6%, while the Dow Jones hovered around the flatline. Inflation data will...
Oil prices rebounded after last week's decline after OPEC+ agreed to raise production at a modest rate, amid doubts about how many members could continue to increase output. The rise marked a reversal of production cuts that were previously set to...
Gold's rally extended beyond the $3,600 level for the first time on Monday after weak US employment data reinforced expectations of a Federal Reserve interest rate cut next week. Spot gold rose 0.9% to $3,617.79 per oz at 12:09 GMT after hitting a...
European stocks closed on Friday, tracking the pullback in US equities after pessimistic labor data from the US sounded alarms over the world's...
US stocks closed lower on Friday after weaker-than-expected August jobs data raised concerns about a slowing economy, even as expectations for...
Ukrainian President Volodymyr Zelenskiy said on Friday thousands of foreign troops could be deployed to his country under post-war security...
Asia-Pacific markets traded mostly higher Monday as investors assessed the resignation of Japan's prime minister and eyed key economic data in the...