(VIANEWS) – Silver (SI) has been up by 3.58% for the last 10 sessions. At 14:50 EST on Tuesday, 2 July, Silver (SI) is $29.75.
Silver price forecast: xag/usd remains below $29.50 due to improved US dollar, yields
The price of Silver faces the challenge of an improved US Dollar (USD), which could be attributed to the higher UST yields. , Demand uncertainties in China might contribute to the pressure on Silver prices after an official report indicated a second consecutive month of manufacturing downturn in June.
Volume
Today’s last reported volume for Silver is 48622, 99.99% below its average volume of 9280829201.18.
Volatility
Silver’s last week, last month’s, and last quarter’s current intraday variation average was 1.24%, 0.75%, and 1.40%, respectively.
Silver’s highest amplitude of average volatility was 1.24% (last week), 1.17% (last month), and 1.40% (last quarter), respectively.
Commodity Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, Silver’s commodity is considered to be oversold (<=20).
Previous days news about Silver (SI)
- Silver price analysis: silver continues battling higher within descending channel. According to FXStreet on Monday, 1 July, "It is now debatable whether Silver is still in a bearish short-term trend, which means there is no longer a downside bias. ", "If Silver continues recovering and breaks on a closing basis above the 50 and 100 SMAs, however, it would indicate a continuation higher to the upper channel line at around $29.90. "
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