Back

Silver Price Analysis: XAG/USD dips below $25.00 but remains bullish

  • Silver retreats to $24.80, pressured by climbing US Treasury yields and a stronger Dollar.
  • Technical outlook remains positive, with potential resistance points set at $25.50 and $25.91.
  • Support levels to watch include $24.07 and $24.00, with significant moving averages providing additional benchmarks.

Silver’s price retreated below $25.00 per troy ounce as US Treasury yields climbed following US data that induced investors to trim Fed rate cut bets. Consequently, the US Dollar rallied, and the XAG/USD exchanged hands at $24.80, down 0.79%.

XAG/USD Price Analysis: Technical outlook

Silver remains upward biased despite retreating below the $25.00 figure. Although it achieved a daily close around $24.80, the grey metal remains poised for gains that could drive prices toward the $25.50 area and beyond. The next stop would be the December 4 high at $25.91, and up next would be the $26.00 mark.

On the other hand, if sellers stepped in and drove XAG/USD prices below $24.50, the first key support level is seen at $24.07, the March 13 daily low. Once surpassed, the next stop would be $24.00, followed by the confluence of the 100 and 200-day moving averages (DMAs) at $23.29/30.

XAG/USD Price Action – Daily Chart

 

NZD/USD remains on the defensive below the mid-0.6100s, firmer US PPI boosts US Dollar

The NZD/USD pair trades on a weaker note below the mid-0.6100s during the early Asian session on Friday.
อ่านเพิ่มเติม Previous

New Zealand's Business NZ PMI improves to 49.3 in February vs. 47.5 prior

New Zealand’s Business NZ Performance of Manufacturing Index (PMI) improved to 49.3 in February from the previous reading of 47.5, according to Business NZ on Friday.
อ่านเพิ่มเติม Next