Silver Price News: Options market turns most bearish on XAG/USD in 15 weeks

Anil Panchal FXStreet

Although prices of silver (XAG/USD) rebound in the last two days, the options market is up for posting the biggest weekly fall since early December 2021. Not only that, but the one-month risk reversal (RR) figure also snaps the five-week uptrend by the press time of Thursday’s early European morning.

That said, the gauge of calls to puts prints -0.925 figure for the week while flashing -0.325 daily RR, down for the second consecutive day, at the latest.

It’s worth noting that the XAG/USD prices also snap a six-week winning streak while bracing for the first negative weekly closing, up 0.44% intraday around $25.20 by the press time.

Given the downbeat option market signals, as well as the Fed’s rate-hike and indecision over the Ukraine-Russia peace plan, silver prices are likely to extend the weekly loss moving forward.

Read: Silver Price Forecast: XAG/USD recovery remains elusive below $25.20

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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