Silver Price Analysis: XAG/USD edges high amidst risk-off impulse, shy of $24.50

Silver notches a 0.60% increase, trading at $24.46, buoyed by a cautious market sentiment. Technical analysis hints at potential for breaking the $24.50 barrier, targeting year-highs. Downside risks loom if silver dips below $24.18, with critical supports at $24.00 and $23.57 in focus. A risk-off impulse pushed the grey’s metal price upwards amidst high US Treasury bond yields. Nevertheless, it remains below last week’s high of $24.50.

A decisive break would expose the December 4 high at $25.91. In another scenario, if sellers stepped in and dragged XAG/USD’s prices below the March 8 low of $24.18, downside risks emerged at $24.00. The next support would be the March 6 low of $23.57. XAG/USD Price Action – Daily Chart XAG/USD Overview Today last price 24.47 Today Daily Change 0.17 Today Daily Change % 0.70 Today daily open 24.3 Trends Daily SMA20 23.09 Daily SMA50 22.95 Daily SMA100 23.29 Daily SMA200 23.

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