Silver Price Forecasts: XAG/USD rises beyond $87.00 after a two-day selloff

💡 DMK Insight

Silver’s recent bounce from one-month lows signals potential volatility ahead. After a steep drop of over 30%, the current price at $87.05 could be a critical pivot point. Traders should watch for resistance around $90.00, which could trigger profit-taking or further selling pressure. The sharp decline suggests that market sentiment is fragile, and any negative news could send prices spiraling again. On the flip side, if silver can hold above $85.00, it might attract buyers looking for a bargain, especially with inflation concerns still looming. Keep an eye on correlated assets like gold, as their movements often influence silver’s trajectory. The next few days will be crucial; a failure to maintain momentum could lead to another test of those lows near $72.00, while a solid rally could open the door to higher levels. Traders should monitor the $85.00 support level closely and be prepared for potential volatility as the market digests this recent price action.