XAG/USD to Explode?

Gold prices slipped this morning after hitting a one-week high last session, as the dollar recovered some lost ground after U.S. fiscal package talks stalled. However, the recent increase in the balance sheet from the FED is likely giving the noble metal more support.

We would also expect Silver to also move much higher as it still has not lost its shine. The recent supportive trend is expected to push silver higher once the stimulus agreement is reached and the dollar depreciates.Should the market break the recent highs at 25.15 we might see the pair quickly moving towards the next resistance at 26.40 and subsequently to 27.30!

Frank Walbaum

Recent Posts

USD/JPY Set to Edge Higher?

Posted on 03 February, 2021 at 14:06 GMT

USD/JPY Set For More Losses

Posted on 25 January, 2021 at 16:09 GMT

USD/JPY Set to Edge Lower?

Posted on 18 January, 2021 at 12:55 GMT

Will Oil Turn Lower Again?

Posted on 11 November, 2020 at 13:39 GMT