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Silver prices (XAG/USD) rose for the second consecutive day, trading near $75.80 per troy ounce during Asian hours on Friday. The rally follows easing concerns over aggressive central bank rate hikes, which had previously pressured the metal’s value. Analysts attribute the rebound to improved risk appetite and a weaker U.S. dollar amid mixed economic data from major economies. The price remains below critical resistance at $76.50, with technical indicators showing potential for further consolidation before a breakout.
For traders, the move highlights the interplay between monetary policy expectations and precious metals. A sustained close above $76.50 could signal renewed bullish momentum, while a drop below $75.00 might reignite bearish sentiment. Silver’s performance is also being watched as a barometer for broader market risk tolerance, given its dual role as an industrial and investment asset.
Looking ahead, investors should monitor upcoming U.S. employment data and Federal Reserve statements for clues on rate trajectory. Geopolitical tensions in the Middle East and China’s demand for industrial metals could also influence short-term volatility. Technical traders may focus on key Fibonacci retracement levels and volume patterns to gauge the next directional move.
