Silver Price Forecast: Price Action Firming for Soft, White Metal - Levels for XAG/USD
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Silver Price Outlook:
Silver prices have eased off their April highs, setting up what could be perhaps the first test of nascent bullish momentum.
Even though silver prices have climbed out of the downtrend from the February and March highs, a cluster of Fibonacci retracement has proved resistance during the rally.
Recent changes in sentiment suggest that silver prices have a mixed bias in the near-term.
Silver Prices Back Off as Yields Edge Higher
With inflation data from around the globe in focus over the course of the week, global bond yields have seen a bit of topside gains amid focus on the thematic influence that ‘price pressures are rising.’ Even though this has curated an environment for a weaker US Dollar as well as marginally softer US equities, precious metals, including silver prices, have struggled to continue with their respective April rallies.