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Silver Price Analysis: XAG/USD clings to $28.00 amid high US yields

From fxstreet.com

Silver clings to modest gains of 0.29% and stays above $28.00 for the sixth consecutive trading day amid higher US Treasury bond yields and a strong US Dollar. At the time of writing, the XAG/USD trades at $28.30 after hitting a daily low of $28.14. The grey metal continues to hold to the $28.00 threshold, while the Relative Strength Index (RSI) continues to edge lower. One could assume that buyers are taking a respite as the RSI edges lower, but it remains above the latest through of 54.00. With that said, Silver remains upward-biased as momentum favors bulls. If XAG/USD buyers reclaim the May 18, 2021, daily high ... (full story)

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  • Category: Technical Analysis