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Commodities Silver

Silver Falls Below $32.50 as China Deflation Intensifies and Trade Tensions Rise

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  • March 10, 2025
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Silver prices (XAG/USD) fell below $32.50 an ounce for the third consecutive session as demand worries heightened due to softer Chinese economic data. China’s lower Producer Price Index (PPI) and Consumer Price Index (CPI) reflect ongoing deflationary forces in the manufacturing sector, a major driver of silver usage. In spite of bearishness, downside risk in the safe-haven metal remains contained with increased global trade tensions, including a 100% tariff levied by China on Canadian agriculture imports in retaliation against previous tariffs. Moreover, mounting fears surrounding the stability of U.S. economy and business volatility may support the safe-haven demand of silver in the near future. KEY LOOKOUTS • China’s persistent deflation in the industrial sector could continue to reduce silver demand and pressure prices in the face of declining global manufacturing. • Increasing trade tensions, such as China’s 100% tariff on Canadian imports, could drive safe-haven demand and support silver prices. • Deteriorating U.S. economic conditions and business sentiment could improve the appeal of silver as a hedge against market volatility. • The Federal Reserve’s any dovish comments on economic deceleration could push up precious metal demand, and silver’s present bearish trend may be reversed. Silver prices continue to stay weak with deflation fears in China and increasing global trade tensions putting immense pressure on sentiment. With the recent reading of China’s Producer and Consumer Price Index numbers showing further evidence of weakness in industrial demand, fears of lowered consumption are pulling silver down. But geopolitical events, including China’s retaliatory 100% tariff on Canadian farm imports and rising trade tensions driven by policies under Trump, may reawaken safe-haven demand. And growing uncertainty regarding the U.S. economic outlook, signaled by dovish comments from the Federal Reserve, may offer support for silver prices in the short term. Silver prices fall below $32.50 following weaker Chinese economic data, increasing fears about industrial demand. However, rising trade tensions and economic uncertainty in the U.S. could support the metal’s safe-haven allure. • Silver prices fall below $32.50 on worries about weakening China industrial demand. • China’s Producer Price Index declined 2.2% YoY, indicating continued industrial deflation. • China’s Consumer Price Index also fell by 0.7%, driven by wider economic weakness and lackluster consumption. • Trade tensions rise as China hits Canadian farm products with a 100% tariff in retaliation. • Geopolitical progress sees global markets stay on their guard with safe-haven metals such as silver in higher demand. • Uncertainty for U.S. businesses increases, with Fed officials cautioning against possible consequences on economic demand and growth. • Technical indicators indicate long-term bearish momentum, with silver resisting around $33.00 and finding support at $32.00. Silver prices are under pressure as anxiety mounts over the deterioration of China’s economic conditions, a world-leading consumer of industrial metals. Recent figures that indicate declines in China’s Producer and Consumer Price Index are manifestations of intensifying deflationary trends, a sign of shrinking industrial activity and decelerating demand. This has sent fears in global markets, particularly over commodities such as silver that have strong correlations with manufacturing and production industries. XAG/USD Daily Price Chart Chart Source: TradingView Meanwhile, increasing international trade tensions are contributing to market uncertainty. China’s announcement that it would levy a 100% tariff on Canadian agricultural products has further ratcheted up the current trade war. These types of geopolitical events tend to drive demand for safe-haven assets such as silver, even in periods when economic indicators are poor. In addition, increased uncertainty about the U.S. economic outlook and business sentiment can further contribute to silver’s status as a hedge against wider market volatility. TECHNICAL ANALYSIS Silver is now displaying indications of ongoing bearish momentum following the breakdown below major support around the $32.50 level. The metal has been trending lower for the third straight session, indicating persistent selling pressure. Unless the price recovers upward strength, it can test the next support level around $32.00, whereas any bounce may meet resistance near the $32.80–$33.00 area. Momentum gauges like RSI and MACD also point to a weakening trend, which means that the bears are firmly in command unless a strong reversal signal appears. FORECAST Silver prices may rebound even with recent pressure if safe-haven demand improves as global uncertainties increase. Increasing trade tensions, particularly China’s retaliatory tariffs and general geopolitical uncertainty, might propel investors into precious metals. Also, any indications of the U.S. economy slowing down might encourage the Federal Reserve to go more dovish, thereby weakening the dollar and boosting silver prices. Breaking above the $32.80–$33.00 resistance area might unlock more upside traction in the short term. Silver, however, could continue to come under downward pressure if poor economic data from China continue and industrial demand continues to be weak. Further deflationary tendencies in China’s manufacturing industry may weigh significantly on silver consumption and cap price recovery. Should bear momentum persist and prices break below the $32.00 support level, the next major downside target is seen around $31.50. In addition, a stronger dollar or hawkish Fed signals would also dampen silver’s rise. 

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Commodities Silver

Silver Price Forecast: XAG/USD Remains Bullish Bias Despite Retreat – Levels to Note

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  • March 6, 2025
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Silver (XAG/USD) trades with a marginal negative bias at the upper mid-$32.00s, ending a three-day winning run but still enjoying a bullish outlook. Even after the retreat, the technicals remain bullish-friendly, with the oscillators developing positive momentum and the metal continuing to hold over important support levels. A push towards $33.00 and higher is still on the cards, with resistance around $33.40 and further goals at $34.00 and $35.00. But a strong break below $32.25 might lead to a fall to the $31.00-$30.80 area, tilting momentum in favor of bearish traders. KEY LOOKOUTS • Silver is still above crucial support levels despite a small fall, with technicals pointing to possible gains to $33.40, $34.00, and $35.00. • The following major roadblocks are at $33.60-$33.70, with the breakout opening the doors for silver to challenge the key $34.50-$35.00 area. • A fall below $32.25 could prompt further losses towards $31.80 and $31.00, which might shift things in favor of bearish traders. • The 100-day EMA around $31.10-$31.00 remains a critical level; a fall below here could lead to more selling pressure and a bearish reversal. Silver (XAG/USD) remains in a bullish trend even after a small pullback, with technical indicators indicating possible upward movement. The most important resistance levels to look out for are $33.40, then $33.60-$33.70, with a breakout leading the way to $34.00 and $35.00. On the bearish side, support at $32.25 is important, with a sustained fall below this triggering further losses towards $31.80 and the 100-day EMA at $31.00. Overall, short-term volatility continues, but the bigger picture remains bullish for buyers unless silver declines below major support levels, changing the trend in favor of bearish traders. Silver (XAG/USD) is still bullish despite a minor correction, with major resistance at $33.40 and $34.00. A fall below $32.25 may lead to further losses, but the 100-day EMA around $31.00 is still an important support. • Silver (XAG/USD) is still an important commodity for industrial consumption and investment, and its price action is driven by this. • Silver still has a bullish inclination despite recent volatility, with technicals pointing towards potential upside action. • The next resistance levels are at $33.40 and $34.00, with a break opening the door to higher price targets. • Key support levels at $32.25 and $31.80 will decide if silver continues its uptrend or falls. • Silver prices are influenced by inflation, central bank actions, and global economic conditions. • Growing demand from solar panels, electronics, and medical applications continues to underpin long-term demand. • A strong dollar, increasing bond yields, or a change in investor sentiment may influence silver’s short-term price movement. Silver (XAG/USD) remains a vital asset in global markets, valued for both its industrial applications and its role as a store of wealth. Its demand spans across various industries, including electronics, solar energy, and medical technology, making it an essential component of modern innovations. Additionally, silver has historically been considered a safe-haven asset, with investors turning to it during times of economic uncertainty and inflationary pressures. As the globe goes greener with technology, growing application of silver in renewable energy applications, notably solar panels, keeps driving demand in the long term. XAG/USD Daily Price Chart Chart Source: TradingView Apart from its industrial and investment interest, silver is also culturally and historically significant in every society across the globe. Jewelry and ornaments to coins and bullion, it has been a mark of prosperity and wealth for ages. Central banks, institutional investors, and retail traders closely monitor silver because it has the dual character of being both a commodity and a financial asset. As the world’s economic trends change, silver is an important component in portfolios and industries as well, capturing wider trends in technology, sustainability, and economic stability. TECHNICAL ANALYSIS Silver (XAG/USD) still displays a bullish inclination from a technical point of view, with leading indicators favoring bullish momentum. The metal has continued to demonstrate its resilience above vital support levels, while daily chart oscillators see positive momentum in gaining traction in a constructive approach. Moving averages, especially the 100-day EMA, serve as decisive pivot points whose price action shows respect for levels. Resistance ranges around $33.40 and $34.00 offer a potential upside targets, while breaching key levels of support sends out a possibility of a trend reversal. All in all, the technical setup for silver is positive for buyers except if a solid breakdown below pivotal support changes direction. FORECAST Silver (XAG/USD) still has a positive outlook as market sentiment favors increased gains. Unless buying pressure strengthens, the metal may head for the $33.40 level of resistance with a possible breakthrough allowing $33.60-$33.70. Continued bullish momentum would propel silver even higher towards the psychological figure of $34.00, with a longer-term rally aiming for the $34.50-$35.00 band. Encouraging economic news, higher industrial demand, or a weakening U.S. dollar would serve as the catalysts for higher silver prices in the near term. To the downside, silver has critical support at $32.25-$32.30, which would cap any near-term decline. A decline below this area could reveal the metal to more losses towards $31.80 and the 100-day EMA level around $31.10-$31.00. If downside pressure becomes aggressive, silver would test the $30.80 area, representing a change of heart towards bearish grounds. Events like a firming U.S. dollar, increasing bond yields, or risk-off risk in financial markets would help send silver’s prices lower.

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Commodities Silver

Silver Price Forecast: XAG/USD Remains Steady at $31.50 as Rising Trade War Uncertainty Takes Grip

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  • March 4, 2025
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Silver (XAG/USD) remains steady at $31.50, supported by safe-haven buying as world trade tensions grow. The White House announced President Trump signed the order increasing the tariffs on imports from China to 20%, and Canada replied with retaliatory 25% tariffs on imports from the United States. China has also pledged countermeasures, further pushing market uncertainty. Mixed U.S. economic reports, such as a modest fall in ISM Manufacturing PMI but a better-than-expected S&P Global Manufacturing PMI, contribute to the market’s conservative sentiment. Investors are now eyeing future U.S. employment reports, which may affect the Federal Reserve’s next monetary policy action. KEY LOOKOUTS • Increasing U.S.-China trade tensions and Canada’s retaliatory tariffs may fuel safe-haven demand, affecting silver prices in the short term. • Investors look for U.S. employment figures, such as the ADP and Nonfarm Payrolls, to gauge possible Fed interest rate actions. • Indecisive U.S. manufacturing reports create economic uncertainty, making future releases pivotal in influencing silver price directions and investor attitude. • China’s commitment to countermeasures against U.S. tariffs will introduce volatility, keeping silver an attractive hedge against economic uncertainty. Silver prices are underpinned above $31.50 as rising tensions in trade among the U.S., China, and Canada spur safe-haven buying. The move by President Trump to hike tariffs on imports from China to 20% has prompted countermeasures, with Canada saying it will slap a 25% tariff on U.S. products and China promising countermeasures. In the meantime, conflicting U.S. factory data contributes to market uncertainty, keeping investors on guard before the important employment reports, such as the ADP and Nonfarm Payrolls. These economic releases will be critical in determining the Federal Reserve’s monetary policy outlook, which will have an impact on silver’s direction in the next sessions. Silver prices hold firm above $31.50 as mounting trade tensions drive safe-haven demand. Tariffs on China by the U.S. and Canadian retaliatory actions introduce uncertainty, while future U.S. jobs reports may determine the Federal Reserve’s policy and silver’s price action. • Silver holds firm above $31.50 as investors flee to safe havens amidst growing global trade tensions. • Trump’s 20% levy on Chinese imports has induced China to pledge countermeasures, introducing market uncertainty. • Canada intends to place a 25% tariff on imports from the U.S. totaling C$30 billion should U.S. tariffs be imposed. • Heightening trade tensions contribute to volatility, and thus silver is becoming an appealing hedge against economic turbulence. • Though ISM Manufacturing PMI weakened, S&P Global’s final February PMI topped forecasts, heightening uncertainty. • ADP and Nonfarm Payrolls are awaited for hints at potential Fed interest rate action. • Silver’s path will be contingent on developments in trade tensions and important economic indicators impacting investor sentiment. Silver remains strong in demand as global trade tensions intensify, further solidifying its position as a safe-haven asset of choice. With the U.S. imposing additional tariffs on Chinese goods and Canada announcing retaliatory actions, investors are looking to silver more than ever as a hedge against economic uncertainty. The constant trade wars are not only affecting diplomatic relations but also creating supply chain and global economic stability fears. Silver is thus still a safe haven for investors looking for stability in times of uncertainty. XAG/USD Daily Price Chart Chart Source: TradingView Outside of trade policy, economic statistics and geopolitical uncertainty have a significant influence on sentiment in the market. The U.S. employment figures are under close watch by investors, as the direction of labor market trends tends to inform overall economic decisions. China’s willingness to pursue countermeasures to U.S. tariffs provides another source of uncertainty. Against this backdrop, silver’s function as a store of value is increasingly prominent, further solidifying its status as a preferred asset during times of uncertainty. TECHNICAL ANALYSIS Silver (XAG/USD) is holding steady above $31.50, with good support at this price as buyers remain in control. The price is holding above important moving averages, a sign of continued bullish pressure. The Relative Strength Index (RSI) is still close to neutral levels, indicating scope for additional gains without underlying overbought levels. Also, silver is probing a resistance area near $31.70, and a strong breakout above this level can pave the way for additional advances. But if it fails to maintain current support levels, it can lead to a consolidation period before the next direction. Price action is closely monitored by traders for confirmation of the next direction. FORECAST Silver prices may extend the upside further if global trade tensions continue to mount, forcing investors into safe-haven assets. A convincing breakout above the $31.70 resistance level can lead to further advances, which can even challenge the $32.00 mark in the near term. If coming U.S. economic reports, such as the ADP and Nonfarm Payrolls, point to economic weakness, hopes of a more dovish Federal Reserve will further lend support to silver prices. Further, any other retaliatory Chinese or Canadian trade action will increase uncertainty, lending more bullish value to silver. Downside risk will come if trade tensions lessen or economic data hints at a strong U.S. labor market, causing selling in silver due to improving risk appetite. A dip below the key support at $31.50 may initiate a correction, potentially driving prices towards the $31.20 or even $31.00 levels. Moreover, a firmer U.S. dollar and higher Treasury yields may pressure silver, as investors redirect attention towards interest-bearing assets. In the short term, silver’s direction will be influenced by geopolitical events and economic indicators that influence market sentiment.

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Commodities Silver

Silver Price Forecast: XAG/USD Drops 4% This Week on Strong US Dollar and Market Uncertainty

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  • March 1, 2025
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Silver (XAG/USD) saw a sharp fall of almost 4% this week, falling to $31.13 as the rally in the US Dollar and profit taking weighed on the market. Even as silver tried to remain above $33.00, it saw intense selling pressure, leading to a pullback towards major support levels. The 100-day SMA at $31.20 was violated, leaving the 50-day SMA at $30.89 as the following pivotal level. In case of additional bearish momentum, silver may test the 200-day SMA at $30.47 and the low in January of $29.70. Since the Relative Strength Index (RSI) also indicates increasing bearish momentum, market participants remain vigilant for possible additional losses. KEY LOOKOUTS • Silver is challenging the 50-day SMA level of $30.89; a fall below may expose the 200-day SMA level of $30.47 and $29.70. • Relative Strength Index (RSI) shows increasing selling pressure, pointing towards further downward risk if silver is unable to regain key levels of resistance. • A resilient US Dollar keeps silver prices suppressed, with market sentiment changing with economic uncertainty and possible recession risks. • Should silver stabilize at levels above $31.00 and breach the $33.00 level, buyers could take the upper hand, taking prices towards the resistance at $34.00. Silver (XAG/USD) is pressured following a near 4% weekly decline, with key support levels under focus. The 50-day SMA level of $30.89 is an important level to watch; a breach below here may lead to more losses towards the 200-day SMA level of $30.47 and the January low at $29.70. The risk-off environment and the appreciating US Dollar are driving bearish pressure, as shown by the Relative Strength Index (RSI). Yet, if silver can sustain itself above $31.00 and push through $33.00, a possible reversal to $34.00 may be imminent. Traders need to watch closely for market sentiment and upcoming economic reports for further guidance. Silver (XAG/USD) faces strong selling pressure, dropping nearly 4% weekly as the US Dollar strengthens. Key support at $30.89 remains critical for future price action. • XAG/USD declined nearly 4% as the strengthening US Dollar and profit booking weighed on prices. • The 50-day SMA is a crucial support level; a break below could lead to further declines toward $30.47 and $29.70. • The Relative Strength Index (RSI) warns of building selling pressure, suggesting the potential for prolonged downside movement. • The strong USD remains bearing down on silver prices, with investors shunning the metal and rushing to safe-haven assets due to economic worries. • Should silver stabilize above $31.00 and rise through $33.00, then a bullish move toward $34.00 is feasible. • Coming economic data and risk sentiment will go a long way in dictating the next direction for silver. • Uncertainty in global markets and technical levels indicate that silver’s direction is based on whether buyers will be able to take control. Silver is still a vital asset in the world financial market, which is controlled by economic trends, investor attitude, and wider macroeconomic factors. The precious metal has been considered both an industrial commodity and a store of value for long, making investors seek stability amid economic uncertainties. Inflation trends, central bank actions, and geopolitical events all contribute to silver’s demand significantly. The use of the metal in industries like electronics, solar panels, and medical uses keeps it relevant for purposes other than investment alone. XAG/USD Daily Price Chart Chart Source: TradingView Market trends and investor sentiment globally continue to influence silver’s performance. During economic uncertainties, silver tends to experience added interest as a inflation hedge and currency volatility hedge. On the other hand, its industrial demand depends on economic growth and technological innovation. As the world continues to shift toward energy transition and industrial uses, silver’s function continues to be dynamic, and it is something that investors and manufacturers watch closely. With changing market conditions, the role of silver in investment portfolios and industrial applications is likely to continue. TECHNICAL ANALYSIS Silver points to significant support and resistance levels being keenly monitored by traders. The metal has just seen selling pressure after it could not hold up above $33.00, resulting in a test of lower support levels. The 50-day Simple Moving Average (SMA) at $30.89 is a key level, with a break below opening up further potential downside to the 200-day SMA at $30.47. Relative Strength Index (RSI) suggests increasing bearish momentum, implying that bears are currently dominant. Yet if silver holds higher above $31.00 and bulls turn back up, a possible reversal back to $33.00 and higher may be underway. Traders must monitor price action and major moving averages to determine future trends. FORECAST Silver’s bullish forecast hinges on major factors including renewed investor appetite, US Dollar weakening, and strengthening industrial demand. If silver can stay above the $31.00 level and break above the $33.00 resistance level, it may regain its upward momentum. A breakout above this level could trigger additional buying, driving prices towards $34.00 and beyond. Moreover, if inflation fears return or central banks turn dovish, silver might gain as a hedge against economic uncertainty. Solid demand from the renewable energy and technology industries could also fuel long-term price appreciation. Silver is still at risk of a stronger US Dollar and changing market sentiment on the downside. If prices cannot hold above key levels of support, especially the 50-day SMA of $30.89, additional losses will be possible. A breach through this level will expose silver to more losses, testing the 200-day SMA of $30.47 and potentially the January low of $29.70. Slowing economies or slackening industrial demand will add more pressure to the performance of silver. Further, if risk appetite grows and investors move to equities or other high-yielding assets, silver can face protracted selling pressure.

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Commodities Silver

Silver Price Forecast: XAG/USD Remains Bullish Above $32.50 Due to Market Uncertainty

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  • February 19, 2025
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Silver (XAG/USD) remains bullish above $32.50, bolstered by the 100-day Exponential Moving Average (EMA) and a robust 14-day Relative Strength Index (RSI) above 66.30. Even though it slipped lower to $32.75 during the Asian session, the white metal’s downside seems capped due to policy uncertainties, such as possible tariff issues under the Trump administration. The important resistance area is at $33.30-$33.40, with the breakout capable of taking prices towards $34.55 and $34.87. To the downside, key support comes at $31.79, and an important level of contention comes at $31.00-$30.90, the level of 100-day EMA. Falling below this can push silver down towards $29.70. The FOMC Minutes are on market players’ radar for the next lead. KEY LOOKOUTS • Silver is met with instant resistance at $33.30-$33.40; a breach above this can lead prices to $34.55 and $34.87. • The initial support on the downside is at $31.79, with a key contention area at $31.00-$30.90; a breach here can drive prices to $29.70. • The 100-day EMA underpins silver’s uptrend, while the 14-day RSI at 66.30 indicates further advances in the near term. • Policy risks, such as possible tariffs under the Trump presidency, and the release of the FOMC Minutes will affect silver price volatility and movement. Silver (XAG/USD) is still in a bullish region above $32.50, aided by the 100-day EMA and a healthy RSI reading of 66.30. The near resistance is at $33.30-$33.40, and a breakout may push prices towards $34.55 and $34.87. On the negative side, support is initially at $31.79, and a break below the $31.00-$30.90 range would expose the market to more losses towards $29.70. Policy uncertainties, such as possible tariffs during the Trump administration, are affecting market sentiment, with traders looking for the FOMC Minutes for more hints on future price direction. Silver (XAG/USD) remains bullish above $32.50, underpinned by the 100-day EMA and robust RSI strength. Levels of resistance stand at $33.30-$33.40, and the level of support is $31.79. Market attention centers on policy unknowns and Wednesday’s FOMC Minutes for further guidance. • Silver (XAG/USD) continues to be positive above $32.50, underpinned by the 100-day EMA and good RSI value of 66.30. • The initial major resistance levels are at $33.30-$33.40, followed by additional target levels of $34.55 and $34.87 based on ongoing buying pressure. • Initial support levels are at $31.79, followed by a critical bearish barrier around $31.00-$30.90; a fall may take prices down to $29.70. • The price remains above the 100-day EMA, and the RSI indicates a bull run in favor of a further increase in silver. • Policy risks, such as the possibility of future tariff moves by Trump’s government, may affect silver’s movement. • Traders wait for the Federal Reserve’s FOMC Minutes for clues about forthcoming monetary policy and possible price action. • A change in world economic mood or surprise policy signals may result in sudden movements in silver prices. Silver (XAG/USD) remains market focus as a favored asset amidst changing economic realities and world uncertainties. Its consumption is fueled by both industrial and investment markets, making it one of the commodity market’s market movers. It finds extensive usage in electronics, solar panels, and medical procedures, which drive its long-term growth prospects. Its historical use as a safe-haven commodity also adds to its attractiveness at periods of economic downturn, as investors seek its services for diversifying their portfolios and preserving their wealth. XAG/USD Daily Price Chart TradingView Prepared by ELLYANA Silver’s price action in the market is influenced by global economic trends, monetary policy, and geopolitical events. Its demand is determined by inflation, interest rate decisions, and currency movements. Additionally, central bank policies and changes in industrial consumption still affect its valuation. With governments and industry placing emphasis on sustainable and technological developments, the use of silver in green energy technologies and electronics is likely to increase, making it even more important in the long term to the global economy. TECHNICAL ANALYSIS Silver (XAG/USD) has a positive technical bias, staying above the 100-day Exponential Moving Average (EMA), which provides solid support at $31.00-$30.90. The 14-day Relative Strength Index (RSI) is at 66.30, showing continuous buying pressure without reaching overbought levels. The Bollinger Bands indicate price consolidation with resistance at $33.30-$33.40, which coincides with the upper band. A successful breakout above this level can take silver to $34.55 and $34.87. On the lower side, the major support levels are at $31.79 and $31.00, with a break below potentially taking the price lower to $29.70. The overall outlook is still bullish as long as silver trades above the 100-day EMA, with investors looking to upcoming macroeconomic announcements to confirm. FORECAST Silver (XAG/USD) has a positive outlook, with positive momentum boosted by solid technicals and macroeconomic conditions. If silver can hold above the critical $32.50 level, the next level of resistance is at $33.30-$33.40. A break above this level would push prices towards $34.55, a last-seen price in October 2024, and further to $34.87. Increased investor demand on the back of inflation hedging and safe-haven buying can further propel silver’s rally. Also, increased industrial consumption, especially in solar energy and electronics, contributes to its long-term potential. If world economic circumstances are conducive to commodities, silver may witness stronger demand, moving prices upward over the next couple of weeks. To the negative side, silver has strong support at $31.79 and more substantial backing in the area of $31.00-$30.90. A slip below here can set the alarm bells ringing and induce more weakness, with the next important objective at $29.70. Market uncertainties surrounding changing Federal Reserve policies and the altering risk tone can exert downward pressure on silver. If interest rates continue to be high or rise further, non-yielding assets such as silver can come under selling pressure. Any fall in industrial demand or economic slowdowns in major markets such as China and the U.S. can also put pressure on prices. A break below key support levels can trigger bearish momentum, resulting in further corrections in the near term.

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Commodities Silver

Silver Price Forecast: XAG/USD Targets Fresh Highs Amid Strong Bullish Momentum

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  • February 10, 2025
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Silver (XAG/USD) continues its bullish momentum, trading near $32.00 per troy ounce, supported by strong technical indicators. The metal remains above the nine-day and 14-day EMAs, reinforcing its short-term uptrend. With the RSI above 50 and the price advancing within an ascending channel, silver could retest its three-month high of $32.65, with a potential breakout targeting the psychological level of $33.00. Key support levels are found at $31.71, $31.44, and $31.10, with a break below these potentially shifting the trend bearish toward December’s low of $28.74. KEY LOOKOUTS • Silver faces a key resistance level at its three-month high of $32.65; a breakout could drive prices toward the psychological barrier of $33.00. • The nine-day EMA at $31.71 acts as immediate support; a breach below this level could weaken bullish momentum and trigger further declines. • The 14-day RSI remains above 50, signaling continued bullish strength; sustained momentum could reinforce the uptrend and push silver toward new highs. • The price of silver trades in an ascending channel and thus is considered very bullish. To continue with further gains, the price has to hold above the lower boundary of $31.10. Silver (XAG/USD) continues with the bullish sentiment. It has traded within the ascending channel and above the crucial support levels. At present, the price has been facing crucial resistance at $32.65, and the break above that can take the price towards the psychological level of $33.00. The nine-day EMA at $31.71 serves as immediate support, while the 14-day EMA at $31.44 and the channel’s lower boundary at $31.10 provide additional safety nets for bulls. With the RSI above 50, market sentiment remains positive, reinforcing the likelihood of further gains unless silver breaks below critical support zones, which could shift momentum bearish toward $28.74. Silver (XAG/USD) continues its bullish trend, facing key resistance at $32.65, with a breakout potentially driving prices toward $33.00. Strong support at $31.71 and the RSI above 50 reinforce the uptrend, while a break below $31.10 could weaken momentum. • Silver faces a crucial resistance at its three-month high; a breakout could push prices toward the psychological level of $33.00. • The nine-day EMA acts as strong support; a break below this could weaken the bullish momentum. • Silver trades within an ascending channel, indicating a strong uptrend unless the lower boundary at $31.10 is breached. • The 14-day RSI remains above 50, signaling continued bullish strength and supporting further upside potential. • Silver remains above the nine-day and 14-day EMAs, reinforcing a strong bullish outlook. • A break below key support levels ($31.71, $31.44, and $31.10) could expose silver to further downside, potentially testing $28.74. • If silver breaks above $32.65, it could aim for the next key psychological resistance at $33.00, further strengthening the bullish outlook. Silver (XAG/USD) continues to trade within a strong bullish trend, hovering near $32.00 while finding support at key moving averages. The metal stays above the nine-day EMA at $31.71 and the 14-day EMA at $31.44, so short-term momentum is strong. With the RSI above 50, silver is still on a positive track, and a breakout above the critical resistance level of $32.65 may take prices up to the psychological barrier of $33.00. The ascending channel formation continues to support the ongoing uptrend, keeping buyers in control as long as the lower boundary at $31.10 holds. XAG/USD Daily Price Chart TradingView Prepared by ELLYANA But if silver cannot hold the bullish momentum, a breakdown below $31.71 may push the price further down and open it to deeper retracements. A break of the 14-day EMA at $31.44 and the lower boundary of the ascending channel at $31.10 may change the market sentiment and push the price down to December’s low of $28.74. Traders should closely watch resistance at $32.65 and key support levels to gauge the next directional move in silver prices. TECHNICAL ANALYSIS Silver (XAG/USD) exhibits strong bullish momentum on the daily chart, trading within an ascending channel while holding above key moving averages. The nine-day EMA at $31.71 and the 14-day EMA at $31.44 act as crucial support levels, sustaining the uptrend. The Relative Strength Index (RSI) remains above 50, indicating sustained bullishness and leaving room for a further move upwards. The initial resistance level to watch is the three-month high at $32.65. A break above this level might send prices upwards to $33.00. A break below $31.10, which is the lower boundary of the ascending channel, might weaken momentum and leave silver vulnerable to a drop to the level of $28.74. FORECAST Silver (XAG/USD) continues to show strong bullish momentum, with technical indicators supporting further gains. The price remains above key moving averages, with the nine-day EMA at $31.71 and the 14-day EMA at $31.44 acting as strong support levels. If silver sustains its current uptrend, it could retest its three-month high of $32.65, a critical resistance level. A breakout above this could push the price toward the psychological mark of $33.00, further strengthening bullish sentiment. The RSI staying above 50 and the price moving within an ascending channel indicate that buyers remain in control, increasing the likelihood of continued upward movement. Despite the bullish outlook, silver faces potential downside risks if key support levels fail to hold. A break below the nine-day EMA at $31.71 could indicate weakening momentum, with the next critical support at the 14-day EMA of $31.44. If the price falls below the ascending channel’s lower boundary at $31.10, bearish pressure could accelerate, exposing silver to further losses. In a worst-case scenario, a sharp decline could push XAG/USD toward its five-month low of $28.74, recorded in December. Traders should closely monitor support levels and key technical indicators to assess potential trend reversals.

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