Silver Price Forecast: XAG/USD holds position near $32.00 due to safe-have flows
Silver prices gained on safe-haven inflows amid rising geopolitical tensions in the Middle East. Risk aversion was boosted by the killing of Hamas militant leader Yahya Sinwar. Demand for non-yielding silver increased on the likelihood of a rate cut by major central banks.
Silver (XAG/USD) prices extended their gains for the fourth straight day, hovering around $32.00 a troy ounce during the Asian trading session on Friday. The grey metal gained support from safe-haven inflows amid rising tensions in the Middle East.
The Israeli military and Shin Bet security service confirmed on Thursday that Yahya Sinwar, the head of the Palestinian Islamist group Hamas in the Gaza Strip, was killed by Israeli forces during an operation in southern Gaza on Wednesday. Sinwar’s death has raised concerns among families of Israeli hostages taken to Gaza by Hamas, who fear that the killing of the militant leader could increase the risk to their loved ones, according to Reuters.
Source: FXStreet