Silver price (XAG/USD) saw some sellers close to $31.25 during the early Asian session on Monday. Improved risk sentiment in global markets fueled some profit booking in the white metal. Traders will be eyeing US Federal Reserve (Fed) Chair Jerome Powell’s speech later on Monday.
XAG/USD
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How to Trade Silver Price After Breaking Below 50-DMA
Silver Price Forecast (17 May, 2023): Silver price (XAG/USD) is trading slightly higher around $23.75-80 after bouncing back from a 1.5-month low of $23.50 on Tuesday. The precious metal suffered its biggest daily loss in a week as the US dollar strengthened and investors turned cautious ahead of the Fed meeting.
Silver Price Struggles to break through 100-period Simple Moving Average on H4
Silver Price Forecast: (1st May 2023), This article is discussing the recent price movements and technical analysis of the silver, which is the currency pair for silver in US dollars. The price of silver has rebounded from sub-$25.00 levels and is currently hovering around the 100-period Simple Moving Average, which is acting as a resistance level.