Daily Forecast for Silver (XAG): Will Resistance at $29 Hold Strong Amid Fed and Geopolitical Pressures?

Welcome to Extreme Investor Network, where we bring you exclusive insights into the world of stock trading, Wall Street, and so much more. Today, we are diving into the current events that are impacting the silver market.

The ongoing conflicts in the Middle East, particularly in Gaza, and the Russia-Ukraine war are playing a significant role in supporting silver prices. The recent rejection by Hamas of terms for a hostage release-ceasefire deal in Doha has only escalated tensions in the region.

In addition, Russia has vowed retaliation after Ukraine’s cross-border attack on Kursk, which is a rare instance of foreign military action on Russian soil since World War II. These geopolitical tensions are creating uncertainty in the market, leading investors to seek out safe-haven assets like silver.

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Israeli forces advancing in central Deir el-Balah in Gaza have pushed Palestinians into just 11% of the Gaza Strip, leading to further violence and casualties. With over 40,000 deaths and 92,000 injuries in Gaza alone, the conflict is taking a toll on both sides.

As U.S. Secretary of State Antony Blinken plans to meet with Israeli Prime Minister Benjamin Netanyahu to address disagreements over the Philadelphi Corridor, the border between Gaza and Egypt, the situation remains volatile.

The impact of these ongoing conflicts in the Middle East and the escalating tensions in the region is driving increased demand for precious metals like silver. As investors look for safe-haven assets to shield themselves from geopolitical uncertainties, silver prices are on the rise.

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Stay tuned to Extreme Investor Network for more exclusive insights and expert analysis on how current events are shaping the stock market and trading landscape. Make sure to bookmark our site for the latest updates and valuable information to help you navigate the world of investing with confidence.

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