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Commodities

Silver Price Rally Hinges on Breaking Above $72 Threshold

Guavy AI Editorial Team
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Silver
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The silver price has been supported by strong US growth and investment in AI, leading to increased industrial demand. The price of Silver (XAG) broke out of its falling wedge pattern in August, indicating a positive trend. However, high Treasury yields remain a risk to the bullish outlook for silver prices.

A key technical level to watch is $72, as a break above this could open up the way towards $90. The current price movement is influenced by inflation data and Treasury yields, which will help determine whether buyers can push the price above $72.

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