Silver Price Forecast: XAG/USD extends bull run to near $72.70 as Fed dovish bets remain steady

💡 DMK Insight

Silver’s surge to nearly $72.70 is significant, especially as it approaches key resistance levels. Traders should note that this rally could be fueled by a combination of safe-haven demand amid economic uncertainty and potential inflationary pressures. If silver can break above the $73 mark, we might see a stronger bullish trend, attracting more speculative buying. However, if it fails to hold this level, a pullback could occur, testing support around $70. It’s also worth considering how this impacts related assets like gold, which often moves in tandem with silver. A strong silver performance could indicate a broader risk-off sentiment, leading to increased interest in gold as well. Keep an eye on the daily chart for any signs of exhaustion or reversal patterns as we approach these critical levels.