Silver Price News: XAG/USD steadies near $23.00 despite upbeat options market signals

Silver Price (XAG/USD) seesaws around the highest level in a week while making rounds to $22.90 amid early Tuesday in Asia. In doing so, the XAG/USD prods a two-day winning streak while paying a little heed to the upbeat options market signals. It’s worth noting that the US Independence Day holiday and a light calendar in Asia appear to restrict the bright metal’s latest moves.

That said, a one-month risk reversal (RR) of the Silver price, a gauge of the spread between the call and put options, prints the second consecutive daily while marking the 0.040 figure at the latest, per Reuters options market data.

It’s worth noting, however, that the weekly RR printed the strongest bullish options market bias in 1.5 months as it rose to +0.145 by the end of Friday’s North American session.

While the XAG/USD lacks clear directions amid the US holidays, recently downbeat US statistics and optimism about the US-China deal, as well as the hopes of upbeat Indian performance, keep the Silver buyers hopeful.

Also read: Silver Price Forecast: XAG/USD rises after weak US Manufacturing PMI