Silver prices are accelerating the downtrend and approaching the $18.10 support area. Precious metals lose ground as US dollar strengthens. Below $17.60 XAG/USD is testing two-year lows. silver futures accelerated their downtrend on Friday due to a general recovery in the US dollar. XAG USD has lost over % so far today and is on track for a six-day selloff. APPROACHES INTERIM RANGE AROUND 6:00 PM Precious metals are higher on Friday as the US dollar strengthens on hopes that the Federal Reserve will announce a fourth straight 75 basis point rate hike in November. US consumer price indices released on Monday confirmed persistent inflationary pressures, allowing the Fed to continue raising interest rates. In addition, growing fears of a global recession stemming from weakening macroeconomic data are also pushing cautious investors to the safe haven. Against this background, silver fell from more than $ 21 at the beginning of October to a minimum of $ 18 on Friday and settled into a narrow range between $ 18.10 and $ 17.60, which spans July, August and September. With technical indicators highlighting strong bearishness, a successful break above $17.60 could take the pair to a June 2020 low of $17.00 and an April 1 , 2020 high of S15.85. On the immediate upside, the pair should break above the 50- and 100-day SMAs of $19.25 and $19.85 to regain momentum and test the psychological $230.00 level.

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