Silver Price Analysis: XAG/USD traces fourth weekly gain in options market catalyst near $25.00
|Silver price (XAG/USD) seesaws around $25.00 in the last few days after retreating from the one-year high on Wednesday, making rounds to $24.95 during Good Friday’s inactive Asian session. Even so, the bright metal stays well-set for a consecutive fourth weekly gain while tracing the upbeat options market signals.
That said, a one-month risk reversal (RR) of the Silver price, a gauge of the spread between the call and put options, prints a mild daily loss of -0.1000 by the end of Thursday’s North American session.
It’s worth noting, however, that the weekly RR is up for the fourth consecutive time, to 0.2000 at the latest. Further, the monthly options market signals are also firmer so far in April after posting the biggest gains in a year in March.
While the options market flashes upbeat signals, the Good Friday holiday may restrict XAG/USD moves ahead of the all-important Nonfarm Payrolls (NFP).
Also read: US March Nonfarm Payrolls Preview: Analyzing Gold price's reaction to NFP surprises
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