Silver (XAG) Daily Forecast: Double Bottom Support Near $28.70; Buy Now?
==========
Silver (XAG/USD) remains under pressure around $28.95, hitting an intra-day low of $28.71. The decline is driven by a strong US dollar and risk-on market sentiment. Geopolitical tensions, including Russia-Ukraine and Middle East conflicts, support silver's safe-haven appeal. Traders are closely watching the final Q1 GDP print and the Personal Consumption Expenditures (PCE) Price Index report for further direction. The US dollar's strength, driven by Fed comments, continues to pressure silver prices. The potential escalation of geopolitical tensions in the Middle East and the ongoing Russia-Ukraine conflict helped limit silver’s losses. Silver (XAG/USD) remains under pressure around $28.95, with key support at $28.71. Traders should monitor the final Q1 GDP and PCE Price Index releases for further direction.
#Silver #Xag/usd #Forecast #UsDollar #GeopoliticalTensions #MarketSentiment #Q1Gdp #PcePriceIndex
https://www.fxempire.com/forecasts/article/silver-xag-daily-forecast-double-bottom-support-near-28-70-buy-now-1441252
FX Empire /
npub1lj…9zjdc
2024-06-26 08:43:07
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wss://relay.damus.ioPublished at
2024-06-26 08:43:07Event JSON
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"content": "Silver (XAG) Daily Forecast: Double Bottom Support Near $28.70; Buy Now?\n==========\n\nSilver (XAG/USD) remains under pressure around $28.95, hitting an intra-day low of $28.71. The decline is driven by a strong US dollar and risk-on market sentiment. Geopolitical tensions, including Russia-Ukraine and Middle East conflicts, support silver's safe-haven appeal. Traders are closely watching the final Q1 GDP print and the Personal Consumption Expenditures (PCE) Price Index report for further direction. The US dollar's strength, driven by Fed comments, continues to pressure silver prices. The potential escalation of geopolitical tensions in the Middle East and the ongoing Russia-Ukraine conflict helped limit silver’s losses. Silver (XAG/USD) remains under pressure around $28.95, with key support at $28.71. Traders should monitor the final Q1 GDP and PCE Price Index releases for further direction.\n\n#Silver #Xag/usd #Forecast #UsDollar #GeopoliticalTensions #MarketSentiment #Q1Gdp #PcePriceIndex\n\nhttps://www.fxempire.com/forecasts/article/silver-xag-daily-forecast-double-bottom-support-near-28-70-buy-now-1441252",
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