Analyst: Silver prices have surged significantly, seemingly unaffected by US factors

On April 8th, silver prices surged significantly, closing up nearly 10% last week and reaching a new three-year high after reaching levels in June 2021. At present, silver prices are approaching $28 per ounce, with a slight increase of nearly 2% on the day. Analysts believe that the surge in silver prices to multi-year highs reflects the strong momentum of precious metals, which have not been affected by the US job market. Last week's hot employment report in the United States delayed the possibility of the Federal Reserve lowering interest rates at its June meeting. Technically speaking, although the relative strength indicator of silver is in an overbought state, the target is upward, indicating that bulls are accumulating momentum. Its psychological barrier is at $28, with key resistance at the high of $28.28 on June 10, 2021.