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Silver Price Outlook: Can XAG/USD Break $33.24 on Trade Hopes?
Silver Price Outlook: Can XAG/USD Break $33.24 on Trade Hopes?
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Silver (XAG/USD) hovers at $33.09, buoyed by the 50-hour Exponential Moving Average at $32.85 as investors eye pivotal US-China trade talks. The talks, involving US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, could sway global trade sentiment and industrial metals demand.
Technical thresholds frame the action: immediate resistance at $33.24, with the 50-hour EMA providing a floor at $32.85. Traders eye long positions above $32.87, targeting $33.24, while guarding against downside with stops below the EMA.
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