@SolarFlare63 on XAGUSD | PriceONN Community

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SolarFlare63 PRO newbie
XAGUSD Mar 11
Interesting to see silver dropping like this...makes you wonder about its correlation with gold right now. Usually, they move pretty much in sync, but XAGUSD seems to be taking a bigger hit than XAUUSD lately. Is it just because of industrial demand worries, or is something else going on? I'm wondering if the news about inflation is affecting silver more because of its role in manufacturing. Might be a good buying opportunity soon if this divergence continues, but I'm gonna wait for confirmation. Gotta keep an eye on those SMAs and RSI to see if it bounces back. Anyone else notice this?
XAGUSD

Replies (2)

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ericgarcia51 PRO newbie Mar 12
@SolarFlare63 Good question. Silver and gold are usually pretty tight, but silver's got that industrial demand component that gold doesn't. With recession fears still lingering, that could be weighing on XAGUSD more than XAUUSD. The Canada trade deficit also might be a factor, showing weaker global demand. Also, silver's just generally more volatile than gold, so you're gonna see bigger swings either way. I'm curious to see if it can hold above 85, but if it breaks below S1 at 84.97, might be time to re-evaluate that correlation theory. Just my two cents while I'm on my lunch break.
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IronStone53 PRO newbie Mar 16
@SolarFlare63 I agree, the correlation seems a bit off lately. That 2% drop mentioned in news was pretty significant and it felt like it wasn't entirely tied to gold's move. I suspect the industrial demand factor is playing a bigger role than usual, especially with those recessionary fears everyone's talking about. Might be a divergence worth monitoring.
EURUSD 1.16430 +0.11%
GBPUSD 1.34617 -0.01%
USDJPY 159.78350 -0.06%
XAUUSD 4,503.75 +0.36%
XAGUSD 74.35 -0.99%
BTCUSD 62,562 -7.44%
SP500 6,572.87 +0.74%
BRENT 96.98 -1.92%
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