🥈🚀 Silver is making a strong comeback, jumping 4.5% to hit $52!
After dropping to a one-year low of $48.6, silver has bounced back as the US dollar and bond yields weakened following the Democrats’ takeover of Congress.
🏦 Rabobank believes expectations of lower government spending and inflation could provide further support for precious metals.
However, $53.5 remains a key resistance level. A clean breakout above it could signal a potential shift in the current downtrend.
📊 Market outlook: Bullish for silver.
❓ Can $XAG break above $53.5 and build on this recovery, or are sellers ready to step in again?
After dropping to a one-year low of $48.6, silver has bounced back as the US dollar and bond yields weakened following the Democrats’ takeover of Congress.
🏦 Rabobank believes expectations of lower government spending and inflation could provide further support for precious metals.
However, $53.5 remains a key resistance level. A clean breakout above it could signal a potential shift in the current downtrend.
📊 Market outlook: Bullish for silver.
❓ Can $XAG break above $53.5 and build on this recovery, or are sellers ready to step in again?
