Silver Price Forecasts: XAG/USD nears all-time at $93.90 on risk aversion

💡 DMK Insight

Silver’s recent surge above $93.00 is a direct response to geopolitical tensions, and here’s why that matters: The market’s risk-averse sentiment is palpable, especially following Trump’s tariff announcements, which typically trigger safe-haven buying. Silver’s proximity to its all-time high of $93.90 indicates strong bullish momentum, but traders should be cautious of potential pullbacks. If silver breaks above $93.90, we could see a rush towards $95.00, but a failure to maintain above $93.00 might lead to profit-taking, pushing prices back toward the $90.00 support level. Keep an eye on how these tariffs impact broader market sentiment, as correlated assets like gold (XAU/USD) may also react similarly, amplifying volatility. On the flip side, if the tariffs lead to a swift resolution or if economic data suggests a rebound, silver could face downward pressure. Watch for key economic indicators this week, particularly any shifts in US employment data or inflation reports, which could shift sentiment quickly. The immediate focus should be on maintaining positions above $93.00, as a breach below could signal a bearish reversal.