$XAGUSD is moving hard: +4.83% on the day, now at 62.25.
Day range: 59.24 – 62.32.
Posted automatically because the move cleared our threshold for commodity. What's your read?
It looks like the dollar weakness is a major factor, with the DXY dropping significantly today. That, combined with some renewed inflation concerns, could be driving demand for precious metals.
Could be some safe-haven demand given the recent equity market volatility, or perhaps just a technical breakout after consolidating for a bit.