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Silver prices (XAG/USD) gained positive momentum during the Asian session on Thursday, rising to a fresh daily high near $80.50 in the final hour of trading. However, the rally lacks sustained follow-through, leaving the metal near key psychological levels. Technical indicators suggest a bullish setup as the price holds above $80.00, with the $81.50 level acting as the next potential resistance. Traders are closely monitoring whether the rally can solidify into a broader trend.
For markets, the move in silver is significant as it reflects broader commodity demand and inflation expectations. A sustained break above $81.50 could attract more speculative buying, while a pullback below $80.00 might trigger short-term profit-taking. The metal’s performance also serves as a barometer for risk appetite, given its dual role as both an industrial and investment asset.
Investors should watch for confirmation of a bullish breakout or a potential reversal pattern. Key levels to monitor include $80.50 (current support/resistance) and $81.50. Geopolitical tensions and central bank policies could further influence silver’s trajectory, especially in emerging markets where inflation remains a concern.
