Silver prices (XAG/USD) surged to a record high of $57.60 during Asian trading hours on Monday, driven by a significant outage on the Comex. The exchange operator, CME, attributed the disruption to a “cooling system failure,” prompting traders to react to the supply constraints. This surge reflects a robust demand for silver amid growing market volatility.
Despite the impressive rise, the Relative Strength Index (RSI) indicates that silver may be overbought, which could limit further gains in the short term. As traders monitor the currency pair's movements, any corrections could present potential buying opportunities, especially if underlying demand continues to support elevated price levels. The market remains keenly focused on the implications of this outage for broader trading activity in precious metals.
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Data Source: FX Killer Analysis Team Updated: 2025-12-01 03:50
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.