Silver Prices Surge Amidst US-Iran Conflict Uncertainty
Silver prices surged nearly 1.80% on Monday as the US Dollar fell, but uncertainty over the US-Iran conflict clouded investor sentiment.
The precious metals segment regained its haven status despite oil prices edging higher.
XAG/USD trades at $65.85, having reached a low of $64.70. Technical analysis suggests that Silver may consolidate around the $64.70, $66.70 area.
Market structure remains neutral to downward-biased, but momentum favors bulls in the short term, according to the Relative Strength Index (RSI).