[MARKET UPDATE] Silver extends on gains with prices up around 3% and looks to test the USD 79/oz level
Newsquawk Staff · Newswires ·
Silver extends on gains with prices up around 3% and looks to test the USD 79/oz level.
What it means
Silver's recent rally, rising around 3%, suggests strong buying pressure, likely driven by safe-haven demand or market dynamics related to forex movements. Testing the USD 79/oz level could indicate a key resistance point; a break above this could attract further bullish sentiment and spill over into broader commodity and currency markets.
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