Silver outlook: XAU and XAG relinquish gains in bearish reversal
From forex.com
Earlier today, silver was up 3.5% but along with gold. But the metal has since fallen sharply to turn flat on the day, potentially signalling a bearish technical reversal. We have seen other markets also come under pressure after a brighter start earlier this morning. Chief among them were cryptocurrencies, where the carnage continues. Ether has broken below $3,000 while Bitcoin has fallen below $90,000. Testing multi-month lows, ETH is now 40% and BTC 30% off their October records. Will precious metals track cryptos and major indices lower? Our silver outlook has turned cautiously bearish owing to the risk selling ...
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