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Silver back in saddle? Forecast as of 26.04.2024
In 2022-2023, there has been much debate as to whether gold and silver act as hedging against inflation. However, elevated prices in 2024 have pushed XAGUSD quotes up 15% YTD. Let's discuss it and make a trading plan for XAGUSD. The de-escalation of the conflict in the Middle East was a real blow to XAGUSD bulls. Prices were heading towards the first of two previous targets of $30.6 and $32.2 an ounce. Still, Iran's inaction in response to Israeli strikes significantly reduced geopolitical risk and undermined safe-haven demand. As a result, silver experienced a pullback. It never rains but it pours. One of the ... (full story)