Silver price resumed its uptrend and surged over 2% on Wednesday, clearing the 100-day moving average (DMA) at $28.58, a key resistance level that capped the grey’s metal advance toward $29.00.
Silver price jumps over 2%, trading at $28.99 after bouncing from daily lows of $28.25. XAG/USD clears the 100-DMA at $28.58; key resistance at $29.00 in focus. RSI indicates strengthening bullish momentum; next targets include $29.44 and $30.00, with support at $27.31 if bearish reversal occurs. Silver price resumed its uptrend and surged over 2% on Wednesday, clearing the 100-day moving average at $28.58, a key resistance level that capped the grey’s metal advance toward $29.00.
Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets. 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.
XAGUSD Metals Technical Analysis Silver
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