Silver prices rebounded overnight after experiencing a sharp pullback due to profit-taking, following a remarkable year-to-date surge of over 25%. The recent trading saw silver hovering around the 91.29 levels, reflecting a volatile market as traders capitalized on the metal's rapid gains. Analysts at OCBC, Sim Moh Siong and Christopher Wong, highlighted this movement as a typical reaction in the commodities market following significant price increases.
This recovery in silver comes amid broader market fluctuations affecting currency pairs, particularly as the USD continues to show strength against major currencies like the EUR. The recent trading dynamics underscore the sensitivity of precious metals to profit-taking strategies, which can lead to quick reversals. Traders will be closely monitoring exchange rates and market sentiment to gauge the sustainability of silver's upward momentum in the coming sessions.
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Data Source: FX Killer Analysis Team Updated: 2026-01-16 10:49
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.