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Silver Price Analysis: XAG/USD soars above key resistance as buyers’ eye $29.00
Silver prices rallied sharply as US Treasury yields tumbled, and the Greenback weakened as major central banks opened the door to ease policy. At the time of writing, XAG-USD trades at $28.29, up by more than 3.50%. After consolidating below the latest cycle high of $27.733 witnessed on April 26, the grey metal exploded with close to $1.00 gains, clearing the $28.00 threshold, with bulls eyeing the $28.50 mark. As wrote on May 8, “The Relative Strength Index (RSI) is in bullish territory, indicating that momentum favors bulls,” This means, the precious metal could be headed for further gains, as the RSI just ... (full story)