XAGUSD | Will the Geopolitical Development Cap the Silver Gain?SilverOANDA:XAGUSDDatTongMacro apporach: - Silver prices recovered on hopes of stronger demand from AI infrastructure investment and the wider industrial sector. - However, rising oil prices tied to geopolitical tensions lifted expectations that the Fed could raise rates later this year, supporting bond yields and limiting silver’s upside. - Geopolitical developments and upcoming economic data remain the main drivers. Technical approach: - XAGUSD broke the descending trendline and created local higher swings. The price is between both converging EMAs, indicating a potential shift to sideways trend. - If XAGUSD remains above 57.25, the price may rise to test EMA78 and the immediate resistance at 59.45. - On the contrary, closing below 57.25 may prompt a further correction toward the next support at 56.40. Analysis by: Quoc Dat Tong, Senior Financial Markets Strategist at Exness