Silver rebounds sharply on safe-haven demand, rate cut expectations

💡 DMK Insight

Silver’s surge to $76.20, up 3.50% today, signals a potential shift in market sentiment. This uptick could be tied to broader economic concerns, particularly inflation fears and geopolitical tensions that often drive investors toward safe-haven assets like silver. Traders should keep an eye on the $75 support level; a solid hold here could indicate further bullish momentum. If silver breaks above $77, it might attract more buying interest, potentially pushing it toward previous resistance levels. On the flip side, if we see a pullback below $75, it could trigger stop-loss orders, leading to a quick sell-off. For those trading silver, monitoring the daily chart for volume spikes and RSI levels will be crucial. A sustained rally could also impact related markets, like gold, which often moves in tandem with silver. Keep an eye on macroeconomic indicators and news that could influence market sentiment in the coming days.