Silver price climbs on geopolitical jitters, faces drag from higher yields
Silver continues to see a lot of noisy behavior on Friday, as traders continue to struggle with higher interest rates, and of course overall fear. The rising US dollar continues to cause issues as well.
Silver is struggling around the $70 level as higher interest rates and geopolitical headlines keep pressure on the metal and limit upside momentum.
Silver price today: Silver rises, according to FXStreet data
Silver Price Forecast: XAG/USD consolidates above $68.00; 100-SMA breakdown remains in play
Silver price slides as safe-haven Dollar, higher yields outweigh geopolitical support
The silver market drops again on Thursday, as interest rate markets in the US and Europe are driving everything. A non-yielding asset such as silver will continue to have issues in this environment.
As can be observed on the XAG/USD chart, the price of silver has once again dropped below the psychological $70 level. At the same time, this week has been marked by sharp fluctuations: on Monday, prices traded below $65, while as recently as yesterday, silver reached $74 per ounce.
Silver price today: Silver falls, according to FXStreet data
Gold and silver prices are sliding on extended war risks, despite the latest optimism surrounding ceasefire talks. Bearish setups remain in focus as long as key resistance levels hold.
Silver Price Forecast: XAG/USD drifts below $70.00 as hopes of ceasefire in Middle East wane
Silver Price Forecast: XAG/USD holds gains near $72.00 due to Middle East peace hopes