Silver prices are currently consolidating just below the $25.00 mark after recently experiencing a loss, due to mixed signals in the options market.
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Silver Price (XAG/USD) licks its wounds by licking up bids to $24.80, mildly bid during Friday’s early Asian session, as it struggles to gauge options market bias amid mixed signals. That said, the bright metal dropped the most on a day in two weeks the previous day amid broad US Dollar strength and the downbeat options market bias.
It should be noted that a one-month risk reversal (RR) of the Silver price, a gauge of the spread between the call and put options, prints the first daily fall in six while posting the biggest negative closing in a fortnight with -0.040 figure at the latest, per Reuters options market data.
Contrary to the daily RR, the weekly options market gauge appears upbeat and challenges the XAG/USD bears. That said, the weekly RR prints the second positive reading around 0.160 by the end of Thursday’s North American session.
While the options market fails to offer any clear signals, the US Dollar’s latest recovery and the cautious mood ahead of the next week’s Federal Reserve (Fed) monetary policy meeting can weigh on the Silver Price.
Also read: Silver Price Analysis: XAG/USD retreats on rising US yields
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