ANALYSIS
NQ100 Finds Support from PPIApr 14
XAGUSD:Demand May Increase to Silver
We have seen the stronger dollar put pressure on silver, members of the Federal Reserve (FED) pointed to the 50 basis point rate hikes against inflation, which is at its highest level in 41 years in the United States. However, fears of a recession in the U.S. are driving demand for silver as a safe haven. With U.S. President Joe Biden approving a new $700 million military aid package for Ukraine, including advanced missile systems, the Kremlin's harsh response is heightening geopolitical concerns and boosting demand for traditional safe-havens. Against this backdrop, the gray metal, which started the fourth trading day of the week with a positive trend, could continue its gains to the resistance of 22.90, the highest level since May 5, if it permanently leaves behind the 22.40 level. In a possible downside scenario, the area between 21.60 and 21.20 can act as a strong support zone.
