Silver prices steadied into the end of the week, with the metal recovering modestly after the sharp swings seen earlier in March. Live XAG/USD quotes were around $84.19 per ounce, leaving the silver price about 1.7% higher on the day.
Silver prices edge higher but stay rangebound as oil above $90 fuels inflation fears, weak jobs data rattles markets, and traders question Fed rate cuts.
Silver Price Forecast: XAG/USD range-bound as RSI holds near 50 and MACD flattens
The silver market had a tough week over the last five sessions, as we are trying to find our equilibrium.
Silver had tried to rally early on Friday, but as we continue to see, there are sellers in Europe at the moment.
Silver continues to be very noisy on Thursday, as traders continue to see the 50-day EMA indicator, and more importantly, the $80 level.
I covered the chain reaction between crude oil, the US dollar, and gold and silver in my previous video. Updated insights are detailed in the article below.
Silver Price Forecast: XAG/USD jumps above $82.00 amid Iran conflict, US jobs data awaited
Gold and silver reversed sharply on Thursday, with the usual narrative quickly emerging that rising US Treasury yields and a stronger dollar were to blame. Perhaps. But that explanation feels a bit like sticking a finger in the wind and hoping.
Silver Price Forecast: XAG/USD declines amid strong US economic data, rising USD
Silver price today: Silver rises, according to FXStreet data
Silver prices slip below the 50-day MA as rising Treasury yields and fading Fed rate cut odds pressure the silver market outlook. Traders watch oil and war risks closely.