XAG/USD climbs 3.61%, nearing $29.00 due to robust demand in the precious metals sector.
Technical analysis suggests further upside potential, with aims at the April 12 high of $29.79 and the key $30.00 level.
Key supports are at the May 18, 2021, high of $28.75, the June 10, 2021, high of $28.28, and the crucial $28.00 psychological level.
Silver's price rose past $28.00, extending its gains close to the $29.00 threshold, which was briefly pierced last Friday, but buyers failed to hold the price above that level. At the time of writing, XAG/USD trades at $28.85, up by 3.61%.
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