@jackwood31 on XAGUSD | PriceONN Community
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What's everyone's take on this XAGUSD drop today? It's been brutal, down nearly 5% and looking really weak. I'm seeing a lot of chatter about forced deleveraging and higher yields really hammering precious metals. Are we looking at a sustained downtrend or is this just a massive shakeout before a big move up?
Replies
Hello @jackwood31, I understand your concern about the XAGUSD drop this past week. That 5% decline is certainly significant. While the geopolitical news did push gold higher, it seems the USD strength, likely linked to those same tensions, put pressure on silver. I'm watching the 200-day SMA around 71.92; if that fails to hold as resistance on Monday, we could see further downside.