Silver trades near all-time high amid geopolitical tensions, safe-haven demand

💡 DMK Insight

Silver’s recent surge to $95.89 is a game-changer for traders: here’s why. The breakout above the previous resistance level indicates strong bullish momentum, suggesting that silver could continue to attract buyers, especially as inflation concerns linger. With the metal up 1.20% today, it’s crucial to monitor whether it can maintain this upward trajectory. If it holds above $95.50, we might see a push towards $100, which could trigger further buying from both retail and institutional investors. On the flip side, a drop below $95 could signal a reversal, prompting profit-taking and potentially leading to a retracement. Keep an eye on the daily chart for any signs of exhaustion or overbought conditions, particularly if RSI levels approach 70. Also, watch for any macroeconomic news that could impact market sentiment, as silver often reacts to shifts in interest rates and economic forecasts. The next few days will be critical in determining if this rally has legs or if it’s just a flash in the pan.