Gold, Silver Price Update: XAU/USD Rises on a Softer Dollar, Silver Withers

$2146 appears as the relevant level of support if bears are to regain control this week. To reiterate, Friday may cause elevated volatility should we see a surprise in the data – due to lower liquidity.

Silver just fell short of tagging the $26.10 level – a consistent ceiling for the commodity going back to mid-2023. Since then, prices have fallen through the 61.8% Fib retracement of the 2021-2022 decline at $25.30 and the psychological $25 handle. Downside levels of interest from here emerge at the 50% retracement , followed by the 38.2% retracement all the way down at $22.35.The daily chart reveals the immediate test for bearish momentum at $24.

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