Silver trades near $75 amid US Dollar rebound
Silver pulled back from intraday highs on Tuesday as the US Dollar rebounded. At the time of writing, XAG/USD trades around $75 after touching a daily high near $77.
The price action remains driven by geopolitical headlines and the Federal Reserve’s interest rate outlook. Rising oil-driven inflation concerns support hawkish Federal Reserve expectations, limiting upside in Silver.
Technical analysis suggests a bearish near-term bias, with XAG/USD holding below the 50- and 100-day Simple Moving Averages. The Relative Strength Index hovers in neutral territory, and the Moving Average Convergence Divergence indicator remains in negative territory.