XAG/USD surged to a new historic peak of $67.46 on Friday, showing remarkable resilience against a firm US Dollar and rising Treasury yields. Market sentiment was influenced by the University of Michigan’s Consumer Sentiment survey, which revealed growing concerns among US households regarding the labor market and a subsequent reduction in durable goods spending.
From a technical perspective, the outlook remains bullish with a potential target of $68.00. The Relative Strength Index (RSI) confirms strong upward momentum, though it is currently in overbought territory. On the downside, a break below $67.00 could trigger a correction toward the December 19 low of $64.50, with further support levels found at $60.82 and the psychological $60.00 mark.
