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Silver Price Analysis: XAG/USD rallies toward $23.00 shy of 100-DMA
Silver price surged sharply in Thursday’s session after hitting a daily low of $22.35, as US Treasury bond yields plunged, a tailwind for the grey metal. The XAG/USD trades at $22.92, up by more than 2.50%, with traders eyeing a break of stir resistance. XAG/USD remains neutral to downward bias because it remains below the 100, 50, and 200-day moving averages (DMAs). Nevertheless, a daily close above the February 13 high of $22.94 would form a ‘morning star,’ opening the door for further upside. If buyers reclaim the $23.00 figure, that will open the door to challenge the confluence of the 100 and 50-DMA at ... (full story)