Commodities Analysis by Fawad Razaqzada covering: XAU/USD, XAG/USD, US Dollar Index Futures, Gold Futures. Read Fawad Razaqzada's latest article on Investing.com
Gold surged to a fresh high this week, while silver also closed positively despite the US dollar strength.
Still, silver remains miles away from its record highs and on that basis, heavily undervalued compared to gold. So, can silver play catch up and start heading higher more aggressively moving forward?the Fed to cut interest rates in June and potentially a few more times before the year is out, with several other major central banks like the ECB and BoE expected to follow a similar path.
Silver has remained in a consolidation phase since it staged a big surge during the peak of the pandemic in 2020, after a brief dip below the pivotal support level of $20. What particularly fuels my bullish sentiment toward silver is its prolonged consolidation period of approximately 3.5 years.
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