CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

💿Silver price surges 3%📈

15:37 13 October 2021

🥈Precious metals prices continue to rise as investors digest US CPI report

Precious metals prices continue to move sharply higher as investors rush for safe haven assets amid increasing concerns regarding rising inflation and global energy crisis. During today's session gold price rose 2.2% to $1,794 per ounce, while silver added more than 3.0% and is trading around $23.15 per ounce. The latest US CPI reading showed that inflation remains elevated and will likely reinforce the Fed’s stance to start tapering its asset purchasing program. Some economists believe that such a decision by the central bank, combined with the persistent energy crisis, which negatively affects the production of many goods, could lead to stagflation and silver and other precious metals tend to do well in such an environment. Additionally weaker dollar and lower treasury yields positively affect silver prices. during today's session. 

SILVER - price broke below major support at $22.00 at the end of September, however sellers failed to uphold momentum and price rebounded. During today's session silver price broke above long-term downward trendline and is heading towards major resistance at $23.71 which coincides with 200 SMA (red line). Should a break higher occur, then the next target for buyers is located around $24.90 and is marked by an upper limit of 1:1 structure and previous price reactions. Source: xStation5

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This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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