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June 3, 2025

Silver Price Correction Sets Stage for Future Gains at 34.00

Silver prices, represented by XAG/USD, dipped during Tuesday’s European session as a stronger US Dollar and a shift in market sentiment weighed on them. Despite this bearish pressure, the recent uptrend indicates a healthy recovery. Following fresh six-month highs reached on Monday, market analysts observe that tariff concerns and mixed US economic data contribute to silver’s volatile trading patterns. A consolidation below the key support level at 34.00 raises questions about potential future performance. Investors should consider both the current trading environment and upcoming economic data that may influence pricing dynamics. The risk-off sentiment from the previous day appears to have eased, but the effects of geopolitical tensions could still impact silver demand in the short term. Silver remains a key metal to watch as both a safe haven and an industrial asset amid these fluctuations.

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