$XAG Silver $77 — CEASEFIRE SPARKS 6% RALLY! 🔥
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Opened the chart. Silver just jumped from $68 to $77 in 24 hours. That's a 13% move.
Here's why.
US and Iran agreed to a two-week ceasefire. The Strait of Hormuz will reopen — temporarily .
The dollar tumbled on the news. Silver did what it always does — rallied hard .
What actually matters:
• 6th consecutive year of supply deficit — 67 million ounce shortfall projected
• Industrial demand still strong despite some substitution concerns
• Silver is trading at a discount to gold — ratio near 63, historically undervalued
Key levels now:
• Resistance: $78.90 → $80.00 → $83.20
• Support: $75.00 → $72.60 → $68.00
Silver is volatile. It moves 2-3x faster than gold in both directions.
I think $80 is the next test. If it breaks, $83 is in play.
👉 Click $XAG to check live price
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#Silver #XAGUSD #Ceasefire #PreciousMetals #BinanceSquare
