Spot silver (XAG/USD) jumps over 10%, trades above $27

Eren Sengezer FXStreet

Spot silver prices (XAG/USD) shot higher during the American trading hours on Monday and rose more than 10% in a matter of minutes. As of writing, the XAG/USD pair was trading at its highest level since June 15 at $27.48, up 11.3% on a daily basis.

There were no apparent triggers behind that sudden move and the thin trading conditions due to the Labor Day holiday in the US and Canada seem to have played a role in this spike.

Source: Reuters

Important update from Reuters: "The alerts on spot silver prices XAG rallying over 10% have been withdrawn due to incorrect data displayed on Refinitiv Eikon."

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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