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Silver (XAG/USD) has maintained a positive bias for four consecutive days, trading near $89.00 with a daily gain of nearly 2%. Despite this upward momentum, the metal remains below its one-week high from the previous day, indicating consolidation. Technical indicators suggest potential for further gains if key resistance levels are breached, though current price action shows limited conviction. The bullish bias in silver markets reflects broader trends in industrial demand and investment flows, particularly as global economic uncertainties drive safe-haven assets. Traders are closely monitoring macroeconomic data and central bank policies, which could influence silver's trajectory. The metal's performance also correlates with gold prices, making it a strategic asset for diversified portfolios. For MENA investors, the consolidation phase presents both opportunities and risks. A breakout above $89.00 could signal renewed buying interest, while a pullback might test support at $87.50. Key factors to watch include U.S. inflation data, geopolitical tensions, and shifts in industrial demand from emerging markets.
