Silver Price Forecast: Silver rebounds as US yields fall, bulls eye yearly highs | Metals Mine

  • Silver Price Forecast: Silver rebounds as US yields fall, bulls eye yearly highs

    From fxstreet.com

    Silver (XAG/USD) rallies sharply during the North American session, edged up more than 2.50% after bouncing off daily lows of $49.73 and trades at $51.37 at the time of writing. Expectations that the Federal Reserve might ease policy in December push US Treasury yields lower, a tailwind for the non-yielding metal. Silver’s uptrend in the short-term resumed, but traders need to clear key resistance at $52.46, November 13 high. A breach of the latter will expose the yearly high of 54.46 reached in mid-October, ahead of the $55.00 milestone. Momentum as measured by the Relative Strength Index (RSI) is bullish, hence ... (full story)

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