Silver
Silver trades around the 78$ support level where a downside break could target the 68$ level, although the mentioned support area is likely to limit further decline during today’s trading.
|
Support |
78 | 68 |
| Resistance | 89 |
98 |
Silver prices recorded a notable decline during today’s trading, pressured by growing caution across global markets amid escalating geopolitical tensions and rising volatility in energy markets. This drop came alongside strong movements in the US dollar and higher bond yields, which added further pressure on precious metals overall.
Investors are also awaiting decisions from several major central banks this week, led by the US Federal Reserve. At the same time, concerns are increasing about persistent inflationary pressures linked to rising oil prices, prompting some traders to reduce their positions in precious metals while waiting for clearer signals regarding the direction of monetary policy in the coming period.
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