Silver Price Analysis: Options market portray XAG/USD buyer’s indecision

Anil Panchal FXStreet

One-month risk reversal (RR) of silver (XAG/USD) struggles to portray any clear trend on the daily basis with the latest 0.0000 figures. However, the spread between call and put prices remains firm on the weekly, up 0.125, following a three-week downtrend.

The same hints at the absence of bearish bias for silver, as far as the options market is concerned. Though, the bulls are yet to retake control.

Looking at the prices, XAG/USD picks up bids to $22.53, up 0.09% intraday during Wednesday’s Asian session. That said, the bright metal prints a 0.13% weekly loss while trading around the lowest levels since late September after declining for consecutive three weeks.

It’s worth noting that the recent challenges to the market sentiment underpin the US dollar strength but an absence of Fedspeak ahead of next week’s Federal Open Market Committee (FOMC), as well as Friday’s US Consumer Price Index (CPI), challenges the silver traders.

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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