💿Silver price surges 3%📈

3:37 PM 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

Start investing today or test a free demo

Open real account TRY DEMO Download mobile app Download mobile app
Share:
Back
Xtb logo

Join over 935 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits

We use cookies

By clicking “Accept All”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

This group contains cookies that are necessary for our websites to work. They take part in functionalities like language preferences, traffic distribution or keeping user session. They cannot be disabled.

Cookie name
Description
SERVERID
userBranchSymbol cc 2 March 2024
test_cookie cc 25 January 2024
adobe_unique_id cc 1 March 2025
__hssc cc 8 September 2022
SESSID cc 2 March 2024
__cf_bm cc 8 September 2022
intercom-id-iojaybix cc 26 November 2024
intercom-session-iojaybix cc 8 March 2024

We use tools that let us analyze the usage of our page. Such data lets us improve the user experience of our web service.

Cookie name
Description
_gid cc 9 September 2022
_gat_UA-98728395-1 cc 8 September 2022
_gat_UA-121192761-1 cc 8 September 2022
_gcl_au cc 30 May 2024
_ga_CBPL72L2EC cc 1 March 2026
_ga cc 1 March 2026
__hstc cc 7 March 2023
__hssrc

This group of cookies is used to show you ads of topics that you are interested in. It also lets us monitor our marketing activities, it helps to measure the performance of our ads.

Cookie name
Description
MUID cc 26 March 2025
_omappvp cc 11 February 2035
_omappvs cc 1 March 2024
_uetsid cc 2 March 2024
_uetvid cc 26 March 2025
_fbp cc 30 May 2024
fr cc 7 December 2022
_ttp cc 26 March 2025
_tt_enable_cookie cc 26 March 2025
_ttp cc 26 March 2025
hubspotutk cc 7 March 2023

Cookies from this group store your preferences you gave while using the site, so that they will already be here when you visit the page after some time.

Cookie name
Description

This page uses cookies. Cookies are files stored in your browser and are used by most websites to help personalise your web experience. For more information see our Privacy Policy You can manage cookies by clicking "Settings". If you agree to our use of cookies, click "Accept all".

Change region and language
Country of residence
Language