Silver rises and trims some of its weekly losses, but not enough to finish the week higher; loses 3.37% in the week. The University of Michigan inflation expectations are tempered from around 3.1% to 2.8%; San Francisco Fed President Daly took notice. Money market futures illustrate that traders expect a 75 basis point Fed rate […]
Tag: XAGUSD
Silver Price Analysis: XAG/USD holding near two-year low, looks vulnerable below $19.00
Silver fails again near the $19.50 area and moves lower on Thursday. The formation of a rectangle could be classified as a bearish consolidation phase. The oversold of the RSI on the daily chart warrants caution before opening new bearish positions. Silver has struggled to build on the previous day’s positive move from near a […]
Silver Price Analysis: XAG/USD still stuck in a range, not out of the woods yet
Silver consolidates its recent drop to a two-year low and remains range bound. The setup favors the bears, although the oversold RSI on the daily chart warrants some caution. Sustained weakness below the $19.00-$18.90 zone is needed to confirm a further bearish breakout. Silver continued its struggle to post any significant recovery from a two-year […]
Silver Price Analysis: XAG/USD is holding on to a modest recovery around $19
Silver rose on Thursday and moved away from the two-year low it hit overnight. Last week’s break through downtrend channel support continues to favor the bears. The oversold of the RSI on the daily chart warrants some caution before positioning for further decline. the silver It gained some positive traction on Thursday and built on […]
Silver Forecast: XAGUSD remains above $19.20 after FOMC Minutes
Silver erases some earlier losses and is up more than 0.10% on Wednesday. The FOMC minutes showed the Fed’s commitment to tackle inflation, even if the economy slows. The Fed could even move to a “tighter stance” if inflation persists. Fed officials reiterated that a 75 basis point hike in July might be appropriate. Silver […]
Silver Forecast: XAG/USD Steady around $19.95
US traders are on holiday due to US Independence Day, so most assets are trading within known ranges. Silver price is subdued and remains negative, driven by depressed precious and base metal prices. Silver (XAGUSD) Price Forecast: Positive divergence on the daily chart could open the door for further gains as buyers target $20.45. Silver […]
Gold Price Forecast: XAU/USD pulls back towards $1800 on calm day
Holiday in the United States favors tours in ranges for the moment. The dollar loses ground and Wall Street futures are trading negative. Gold unchanged around $1806, after falling from $1816. The Prayed It hit as high as $1,814 in the Asian session, the highest level since Thursday, and then reversed direction down to $1,804. […]
Silver Price Analysis: XAG/USD consolidates below $20.00, not out of the woods yet
The price of silver remains near the two-year low reached on Friday. Friday’s breakout of a downtrend channel continues to favor the bears. RSI oversold on short-term charts warrants caution before positioning for further decline. The price of silver has failed to capitalize on Friday’s nice recovery move from the two-year low and has seen […]
Gold Forecast: XAU/USD bounces back above $1,800 from a five-month low
Gold prices trim daily losses as dollar soars on risk aversion. US yields slump amid recession fears. Silver also rebounded, down “only” 2.60%. Metals rallied during the American session, amid a plunge in US yields. The rally in Treasuries boosted gold, which dragged silver higher. The XAU/USD around $1,800/oz, far from the daily low. Falling […]
Gold Price Forecast: XAU/USD extends decline below $1800
Gold fails to find support despite lower Treasury yields. Next level of consideration appears at $1786, the low of May. Silver accelerates the decline and loses more than 2% on Friday. The Prayed remains under pressure and is falling for the fifth day in a row. Hours ago it fell below $1,800 and is trading […]
