Silver<\/a> gaining nearly 4% for the day and sending Silver prices handily into a new high heading into the close of the trading week.<\/p>\nDespite the gains, XAG\/USD remains overall bearish, still down 4.75% from the last swing high, with the year’s high bids far above at $26.13.<\/p>\n
With the US Dollar (USD) falling back on Friday and investor inflation-fueled fears abating, Silver prices are catching a firm bid.<\/p>\n
Further price-bolstering remains the escalation in the Gaza Strip conflict as Israel and Palestinian Hamas trade blows following last week’s rocket attacks by Hamas on Israeli targets.<\/p>\n
With Middle East geopolitical tensions on the rise, and markets worried about potential spillover into neighboring countries via sanctions from larger, international neighbors, XAG\/USD is catching some investor appetite for precious metals.<\/p>\n
XAG\/USD Technical Outlook<\/h2>\n
Friday’s firm bid for spot Silver prices sends the XAG\/USD pinning directly into a descending trendline from late-August’s swing high into the $25.00 handle, while the 50-day Simple Moving Average (SMA) sits just overhead current price action near $22.90.<\/p>\n
The 200-day SMA is turning mildly bearish into $23.35, and will be capping off technical action moving ahead if Silver bulls aren’t able to extend a bull run and capitalize off the near-term floor set at $20.75.<\/p>\n
XAG\/USD Daily Chart<\/h2>\n<\/p>\nXAG\/USD Technical Levels<\/h2>\n
\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Share: Silver is seeing recovery after Thursday’s minor backstep. Spot prices have firmly gained on Friday, up nearly 4% from the day’s opening bids. A declining trendline on the daily candlesticks poses a near-term threat to additional gains. XAG\/USD bids cleared plenty of chart paper on Friday, with spot Silver gaining nearly 4% for the […]<\/p>\n","protected":false},"author":2,"featured_media":10382,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,350,252,247,253,249,671,256,254,672],"class_list":["post-173959","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-metals","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-silver","tag-wallet","tag-wordpress","tag-xagusd"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/173959","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=173959"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/173959\/revisions"}],"predecessor-version":[{"id":173960,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/173959\/revisions\/173960"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/10382"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=173959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=173959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=173959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}