Silver (XAG/USD) is treading water on Wednesday after a sharp two-day run to mark fresh multi-year highs. The metal consolidating just below the key $39.50 mark during the American trading hours. While bullish momentum remains intact, the pause comes as the US Dollar (USD) stabilizes on the back of a trade agreement between the United States and Japan, which has injected a dose of cautious optimism into broader markets and tilted sentiment toward risk-on.
Despite the intraday slowdown, Silver still trades near 14-year highs, at levels last seen in September 2011, underlining the strength of the ongoing uptrend. The metal is up nearly 3.33% so far this week and continues to ride the wave of broad-based Greenback weakness.
On the daily chart, Silver is edging higher along the upper boundary of a well-defined rising channel that has contained price action since early April. Price is holding well above the short-term Exponential Moving Averages (EMAs) 9, 21, and 50-day all of which are sloping upward and reinforcing the underlying bullish momentum.
Silver climbed above $41 per ounce on Wednesday, holding near 14-year highs as traders increased wagers on US Federal Reserve rate cuts. On Tuesday, the Bureau of Labor Statistics reported the US econ...
Silver is currently trading at around US$41.26 per ounce in Asian trading on Tuesday, a slight decline of 0.19% from the previous session. This level remains near its highest level in recent years, re...
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...
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Japanese stocks were mixed following a Wall Street rally driven by the chip/tech sector. An unexpected decline in the US PPI fueled hopes of a Fed rate cut. Investors in Tokyo remained cautious ahead of the US CPI release.At 9:27 a.m. Tokyo time,...
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