According to analysts, silver quotes show a tendency to increase at the moment. Like gold, white metal gradually becomes more expensive but experts find it difficult to answer how long this trend will last.
On Thursday, August 1, silver quotes (XAG / USD) continued to grow within the ascending channel. White metal was trading at $15.96 and analysts point to a short-term uptrend in relation to the precious metal.
Currently, silver is trading at 16.34. The XAG/USD quotes are moving inside the cloud of Ichimoku Kinko Hyo. This indicates the presence of a side trend in precious metals. Experts expect testing of the lower boundary of the Ichimoku Kinko Hyo Cloud near the level of 16.10. After that, it is possible to continue the growth of "silver" prices to the level of 17.20. Testing the support level will be an additional signal in favor of increasing quotes XAG/USD, experts believed. Accelerating the growth of XAG/USD quotes is possible in case of a breakdown of the resistance area and closing above the level of 16.70, analysts summarized.
Experts consider the current state of the precious metals market to be fairly stable. They fix the upward trend, which is favorable for investors in precious metals and other market players.
