Silver price remains subdued as PBoC maintained the benchmark interest rate at 3.1% for November. Silver price (White Metal) retraces its recent gains, trading around $31.20 per troy ounce during the Asian session on Wednesday.
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Silver Price Forecast: Silver falls as dollar strengthens
Silver Price Forecast: Silver (XAG/USD) declined from a two-day high of $32.00 and fell below the 50-day simple moving average (SMA) to $31.37 late in the North American session.
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Silver Price Analysis: चांदी 2% से अधिक बढ़कर $29.00 पर पहुंची
🟢 Silver Price Analysis: चांदी की कीमत (Silver Price) में बुधवार को तेजी लौटी और 2% से अधिक की तेजी आई, जो 100-दिवसीय मूविंग एवरेज (DMA) को पार करते हुए $28.58 पर पहुंच गई, जो एक प्रमुख प्रतिरोध स्तर था जिसने ग्रे धातु की बढ़त को $29.00 तक सीमित कर दिया। Silver $28.25 के दैनिक निचले स्तर से उछलकर $28.99 पर कारोबार कर रहा है।
Silver Technical Analysis: consolidation Zone $20.20-20.85
Silver Technical Analysis: Silver price is displaying a consolidation formed in a range of $20.20-20.85 after a sheer perpendicular downside on an hourly scale. The asset looks vulnerable as the 20-period Exponential Moving Average (EMA) at $20.70 is acting as a barricade for the Silver price.
Silver Price Forecast: Silver Hits New multi-month low, August 11.4% Fall
Silver Price Forecast: Spot silver entered new month firmly in red and hit new lowest in over two-years on Thursday, in extension of August’s 11.4% fall (the biggest monthly loss since September 2020).
Gold Price Target for Next Week $1640—$1686
The overall sentiment is bullish for gold next week with the U.S. dollar, safe-haven demand, and heightened volatility selected as the top three triggers that could push the yellow metal higher in the short term.
Spot Gold Investor Near $1512 Following Christmas Rally
The XAU/USD pair rose sharply ahead of the Christmas holiday and extended its rally two days later when investors returned on Thursday. After touching its highest level since early November at $1514 on Friday, however, the pair lost its momentum and was last seen trading flat on the day near $1513.
Gold Investors Raised Their Long Positions by 8%
Investors raised their long positions by 8%, while shorts were cut by 12%. In turn, gold prices have remained firm, rising above the December 4th and December 12th highs, despite a plethora of factors which would typically weigh on the precious metal, including equity markets rising to fresh record highs and progress in the US-China trade war talks.