Digital Coin News

Silver Price Forecast: XAG/USD rises to near $28.00, tracking rally in gold

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 14 sec. here
  • 6 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 72%

XAGUSD News

Silver,Commodities,Macroeconomics

Silver price advances for the third consecutive session, trading higher to near $28.00 per ounce during the early European hours on Tuesday.

Silver price follows the rally in gold as global central banks increase their reserves. The price of Silver has advanced to its highest level since June 2021. The eased geopolitical situation in the Middle East could have limited the advance of Silver price. This surge in Silver price mirrors the rally in gold, driven by heightened consumer and industrial demand. Global central banks increasing their reserves in gold have also contributed to the increased appetite for precious metals.

However, Silver price could have faced downward pressure as geopolitical tensions have eased in the Middle East, following the withdrawal of most Israel Defense Forces from southern Gaza, possibly due to growing international pressure, has contributed to easing tensions.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in COİN

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Silver Price Forecast: XAG/USD stretches lower to near $24.90 amid a market cautionSilver price loses ground for the third consecutive session, trading lower near $24.90 per troy ounce during early European trading hours on Wednesday.
Source: FXStreetNews - 🏆 14. / 72 Read more »

Silver Price Forecast: XAG/USD pulls back from all-time highs, hovers around $27.00Silver price attempts to snap its five-day winning streak, retreating from the all-time highs and trading near $27.00 per troy ounce during early European hours on Thursday.
Source: FXStreetNews - 🏆 14. / 72 Read more »