Silver Price Forecast: XAG/USD falls for three straight days but clings to $24.50s amidst high US yields By christianborjon Silver XAGUSD Commodities Metals Macroeconomics
In the North American session, the white metal slides almost 0.50% on high US yields and a positive market mood.Silver Price Forecast : The bias is neutral upwards, but caution is warranted due to the closeness of the 200-DMA. extends its fall to three-consecutive trading sessions, struggling to get to the $25.00 mark, weighed by rising US Treasury yields and an upbeat market mood, despite the escalation of the Russia-Ukraine conflict. At the time of writing, XAG/USD is trading at $24.50.
In the US, President Biden said that Vladimir Putin could face a war crimes trial and vowed Washington would impose another tranche of sanctions against Russia. XAG/USD’s bias is upwards, though, in the last three trading sessions, a series of subsequent lower highs/lows sent silver towards the 50-day moving average at $24.33, a solid line of defense for XAG bulls, lifting the white-metal to the $24.30s area.
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