Silver prices surged 2% on Tuesday, with the XAG/USD currency pair hitting an all-time high of $89.11 before retreating to $86.91. This rally came amid a recovery in the US dollar following a softer-than-expected inflation report, influencing trading dynamics across the forex market. The volatility saw the exchange rate drop from daily lows of $83.45.
The recent spike in silver prices reflects heightened bullish momentum, although it appears to be fading as market participants digest the economic data. As the USD gains traction, traders are closely monitoring the implications for precious metals, considering how shifts in currency exchange rates may impact future trading strategies in both the silver market and broader commodities space.
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Data Source: FX Killer Analysis Team Updated: 2026-01-13 22:47
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.