Silver Price Forecast: XAG/USD turns upside down on progress in Russia-Ukraine peace talks

Silver (XAG/USD) retraced to near $75.00 during the Asian trading session after reaching an all-time high of $84.03. This movement is attributed to the progress in Russia-Ukraine peace talks. The market is reacting sensitively to the possibility of peace, impacting silver prices significantly. In the Asian market, silver faced a rapid adjustment, reaching $75.00, indicating its high volatility as an asset. Investors are keen on assessing the impact of geopolitical easing on the commodities market, particularly precious metals, and must remain vigilant about forthcoming trends. The advancement in these peace negotiations might influence not only silver but also the investment sentiment in other safe-haven assets. Investors are advised to monitor resistance and support levels closely in preparation for upcoming movements.