Silver Price Forecast: XAG/USD hovers around $85.50 near record highs

💡 DMK Insight

Silver’s current price around $85.20 is a critical juncture for traders looking to capitalize on potential volatility. With silver hovering just below record highs, this could signal a breakout or a pullback. Traders should keep an eye on macroeconomic indicators, particularly inflation data and interest rate decisions, as these can heavily influence precious metals. If silver breaks above $86, it could attract momentum traders, pushing prices higher. Conversely, a drop below $84 might trigger stop-loss orders, leading to a sharper decline. The sentiment in the broader commodities market also plays a role; if gold prices rally, silver often follows suit. Watch for any shifts in demand from industrial sectors, as silver’s dual role as an investment and an industrial metal can create unexpected price movements. So, keep your charts handy and monitor those key levels closely.