Silver Hovers at $68.88 Pivot as Kiyosaki Holds Back on Buying
Silver (XAG) is attempting to reclaim the $68.88 Fibonacci retracement level after a nearly 3% bounce to around $66.7 on Monday, driven by easing Middle East tensions following a US-Iran ceasefire. However, the metal remains 45% below its January high of $121.76, pressured by a strong dollar and cautious Federal Reserve policy. Robert Kiyosaki, author of Rich Dad Poor Dad, stated he is waiting for a favorable macro environment before adding to gold, silver, Bitcoin, and Ethereum, without specifying price targets. On the technical side, the $68.88 level is pivotal: a weekly close above it could signal a reversal towards $79 and $89 resistance, while failure risks a drop to $55 support. The Relative Strength Index (RSI) is below 50, indicating bearish momentum. Analysts highlight $63 as near-term support and $71 as resistance.
Key facts
- Silver bounced nearly 3% to $66.7 as US-Iran ceasefire eased safe-haven demand.
- Robert Kiyosaki waits for macro conditions, not price, before buying metals.
- Silver trades 45% below January record high of $121.76.
- Key pivot at $68.88: close above targets $79-$89; failure risks $55 support.
- RSI below 50 indicates bearish momentum persists.