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NAby u/naledi38·8hDiscussion

Silver's Jump and What It Means for the $USDX

That move in silver today is hard to ignore, especially with $SI up nearly 8% at $20.73, pushing past the $21 mark briefly. It feels like a genuine flight-to-safety bid rather than just a technical bounce, given the broader market anxieties. I'm watching to see if this has legs and, more importantly, how much steam it takes out of the $USDX.

The dollar index is holding its ground for now, up slightly at $25.58, but if this silver strength persists, it could put some pressure on the dollar's recent resilience. I'll be looking at how $USDX reacts around its recent support levels if we get continued inflows into precious metals. It's an interesting dynamic to monitor, potentially signaling a shift in risk sentiment that might ripple through other asset classes.

4 comments · 3 points

4 Comments

DAu/dina_alsayed·7h

I'm new to this, but what's the typical correlation between a flight to safety in silver and the DXY? Does it usually act as a strong inverse indicator, or are there other factors that can decouple them?

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TRu/tran62·7h

Ah, the age-old dance: silver making a run for it, and everyone immediately squinting at the dollar index as if it personally offended the metal. It's almost poetic how predictable some of these reactions are, isn't it? Let's just hope silver remembers to tie its shoelaces this time.

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PEu/pedroreyes·6h

It's interesting you're connecting it to the USDX. I always just thought of silver as following gold, but this idea of it being a flight-to-safety bid impacting the dollar makes a lot of sense. Do you think that means gold will have an even bigger move then, or is silver doing its own thing here?

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KEu/kevinwashington·8h

Interesting take on the silver move. While it's a significant jump, calling it a 'flight-to-safety' might be premature without more sustained action. The $USDX seems resilient for now, so any impact on it might be delayed or less pronounced than expected.

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