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Commodities Silver

Silver Price Outlook: XAG/USD Finds Support Below Mid-$32.00s on Mixed Technical Indications

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  • February 25, 2025
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Silver (XAG/USD) is trading with a bullish bias below the mid-$32.00s, ending a two-day losing streak as it finds modest support. While recent buying interest has been evident, technical indicators are pointing towards mixed signals, and caution is advised for bulls. A break above $33.00 on a sustained basis could propel further gains towards $34.00 and higher, while solid support is seen around the $32.00-$31.75 area. Any corrective slide could be considered as a buying opportunity, although a firm fall below the 100-day SMA level of $31.25 may change momentum into the hands of bearish investors, which might pull silver to the $30.00 psychological level. KEY LOOKOUTS • Silver requires consistent support above $33.00 in order to assure bullish momentum, which might challenge $34.00 and the multi-year high around $35.00. • The $32.00-$31.75 region provides solid support, and any fall is likely to find buyers, capping losses for XAG/USD. • A firm break below may turn sentiment bearish, leaving the way open for further losses towards the $30.00 psychological level. • Oscillators indicate caution, and it is best for traders to wait for confirmation before taking a position for a prolonged move in either direction. Silver (XAG/USD) is trading with a bullish bias but has some major technical barriers, especially around the $33.00 resistance level, which needs to be broken for extended bullish momentum. Support is strong around the $32.00-$31.75 area, where buying interest could cap downside risks. A fall below the 100-day SMA at $31.25, however, could shift the bias in favor of bearish traders, possibly taking silver down to the $30.00 psychological level. With conflicting technical indicators on the daily chart, the traders need to be cautious and await clear indication before positioning for the next big move. Silver (XAG/USD) is trading bullish but is met with resistance at $33.00, requiring a breakout for additional gains. Robust support at $32.00 constrains downside risk, while a breakdown below $31.25 has the potential to turn momentum bearish. Conflicting technical indications mean traders need to wait for confirmation before taking firm positions. • Silver picks up momentum below mid-$32.00s, ending a two-day losing streak with slight buying demand. • A critical resistance at $33.00, where a breakout is required to validate bullish interest towards $34.00 and $35.00. • Initial support at $32.00-$31.75, where buying demand may cap bearish movements. • 100-day SMA at $31.25 acts as a crucial pivot point, with a fall below indicating a bearish trend. • Possible negative to $30.00 if silver cannot hold support and breaks important levels. • Divergent technical indicators on the daily chart indicate caution for traders prior to entering a clear direction. • Short-term corrective drops can be considered as opportunities to buy unless major support levels are broken. Silver remains to be of interest as a valuable commodity, supported by its industrial and investment demand. Trusted for its flexibility, silver finds extensive application in electronics, solar panels, and medical devices, and hence is an integral component in many industries. Investors also identify silver as a safe haven asset, particularly at times of economic instability, due to its inherent value and acting as a hedge against inflation. Given its dual use—as an industrial metal and as a store of value—silver continues to be a desirable choice for traders and long-term investors. XAU/USD Daily Price Chart TradingView Prepared by ELLYANA In addition to its market value, silver has served a historical function in currency and wealth storage. It has been utilized in coinage for centuries and is still a top pick among bullion investors. Increasing consumption in the solar panel manufacturing, in the field of renewable energy, further intensifies its long-term prospects. With the constant advancement of world industries, silver is likely to be increasingly in demand, reemphasizing its role as an essential metal in economic growth as well as technological progress. TECHNICAL ANALYSIS Silver (XAG/USD) portrays a mixed setup, and cautious approach should be followed by the traders before pursuing a directional momentum. The failure to maintain gains over the $33.00 resistance level on multiple occasions indicates a likely consolidation period, and critical support around $32.00-$31.75 has prevented the downside movements from going further. A decisive cross of the $33.00 level might reignite bullish interest, taking prices to even higher resistance levels. On the contrary, a fall below the 100-day SMA at $31.25 can be an indication of a bearish turn, causing more deeper corrections. With oscillators reflecting indecisiveness, traders should wait for confirmation before positioning for the next major trend. FORECAST Silver has the potential to extend its gains if it manages to break above the crucial $33.00 resistance level. A sustained move beyond this mark could strengthen bullish momentum, leading to a test of the $34.00 level and possibly even the multi-year peak near $35.00. Strong demand from industrial and investment sectors, along with inflation concerns, could provide additional support for silver prices. If bullish momentum continues, silver may see further upside, supported by favorable market conditions and growing interest in precious metals as a hedge against economic uncertainty. If silver cannot hold ground in the vicinity of the $32.00-$31.75 zone, it might be subjected to rising selling pressure. A dip below the 100-day SMA of $31.25 can flip market sentiment bearish, and that would set the stage for a drop to the $30.00 psychological mark. Additional downside threats lurk if worldwide economic prospects soften, hurting industrial demand for silver. If bear momentum quickens, the metal might tumble into the $29.50-$29.00 region, where there is strong historical support.

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Commodities Silver

Silver Price Forecast: XAG/USD Jumps to Three-Month Highs as Risk-Off Sentiment Increases, Global Trade Uncertainties Rise, Hits $32.38

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  • February 5, 2025
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Silver prices have increased to a three-month high of $32.38. Increasing risk-off sentiment due to global trade and economic uncertainties has been the cause of this surge. In the recent past, with China introducing fresh tariffs on US imports, the tensions between the US and China have raised the demand for the safe-haven assets, including Silver. Silver is also being catalysed further by the US Dollar technical pullback. In addition to major central banks, including the ECB, BoC, and PBoC, turning dovish, the threat of US Federal Reserve rate cuts will continue to make Silver an appealing asset. The market now awaits US Nonfarm Payrolls (NFP), which might dictate the Federal Reserve’s next move in terms of monetary policy and the future of Silver. KEY LOOKOUTS • Ongoing fresh tariffs from China over US imports further fuel market uncertainty, increasing demand for safe-haven Silver as concerns grow over global economics. • Technical pullbacks in the US Dollar, DXY, are a positive facilitator for Silver due to a weaker USD making the metal more desirable among investors. • Dovish monetary policies by major central banks, including a potential rate cut by the Fed, work to increase appeal for Silver as the non-yielding safe-haven asset. • The upcoming NFP report will be crucial in shaping the Fed’s interest rate decisions, potentially influencing Silver’s price direction. Silver prices continue to gain momentum as global economic uncertainties and trade tensions between the US and China drive demand for safe-haven assets. The weakening US Dollar, experiencing a technical pullback, has further supported Silver’s bullish trend, making it more attractive for investors. The dovish policies of major central banks, including the expected rate cuts from the Federal Reserve, have further increased the appeal of Silver as a non-yielding asset. Market participants now look forward to the US Nonfarm Payrolls (NFP) data, which may significantly influence the policy direction of the Federal Reserve and may further affect the price trajectory of Silver in the coming sessions. Silver prices are growing as the rest of the global trade tensions strengthen and a US Dollar weakening strengthens demand for a safe haven, while dovish central bank policies further increase attractiveness to Silver; investors await an upcoming US Nonfarm Payrolls data to seek direction. • XAG/USD hits $32.38 because of safe haven demand rising among global economic fears. • China takes new tariffs for US imports by imposing new fees, fueling risk-off risk and strengthening prices for Silver. • A technical pullback in the US Dollar (DXY) makes Silver more attractive to investors. • Rate cuts and easing policies from major central banks, including the Fed, ECB, and BoC, make Silver more attractive. • Markets expect at least two Fed rate cuts this year, which may push non-yielding assets like Silver higher. • The jobs report next week may affect Fed policy decisions and Silver’s price trend. • Investors continue to seek safe-haven assets such as Silver amid ongoing geopolitical and economic risks worldwide. Silver prices have moved to a three-month high of $32.38, influenced by growing global trade uncertainties and a risk-off market sentiment. The ongoing US-China trade tensions, with China imposing fresh tariffs on US imports, have increased demand for safe-haven assets like Silver. At present, the current technical pullback of the US Dollar has created more room to push Silver even higher. And with the recent dovish tones from the Fed, ECB, and other main central banks on interest rates cuts, the asset is gaining support as a no-yielding haven. XAG/USD Daily Price Chart TradingView Prepared by ELLYANA Market participants have been keenly observing the soon-to-be-reported US Nonfarm Payrolls that may be critically influential in affecting the Federal Reserve’s future policy on monetary money. A rather weak jobs report would make more probable Fed’s rate cuts further driving Silver upward, and, conversely, a strong jobs report could help limit the ascent. Widespread global growth concerns such as trade disruption, slowing down further, are enhancing demand for silver as a means of hedging against uncertainty. As investors balance these factors, Silver is well positioned for additional volatility in the coming sessions. TECHNICAL ANALYSIS Silver (XAG/USD) remains highly bullish, trading near its three-month high at $32.38. Here, major technical indicators indicate more upside to be seen in this metal, as it has already broken above the resistance of $32.00 and transformed the same into a key support area. The Relative Strength Index is still in the bullish zone but is approaching overbought levels, so a short-term consolidation may be expected before another leg higher. The 50-day and 200-day moving averages are in a sustained uptrend, as the price remains well above both. If Silver continues its uptrend, then $32.80 and $33.50 are the next resistance levels to watch, while a downside correction may find support at $31.80 and $31.50. Traders will be keeping a close eye on market sentiment and economic data for confirmation of the ongoing bullish trend. FORECAST Silver’s bullish momentum is strong as it trades near its three-month high of $32.38, with multiple factors supporting further gains. The weakening US Dollar, along with expectations of Federal Reserve rate cuts, is boosting investor interest in non-yielding assets like Silver. Besides geopolitical tensions- the US-China trade war, in particular and slow-down in world economies also promote safe haven. If silver sustains at this level and breaches above $32.00 then next on cards are the marks of $32.80 and $33.50. This might pull price up and surpass resistance toward a psychological $34.00 in case of affirmation of a dovish US Federal Reserve’s monetary policy posture within the forthcoming months. Silver’s strong uptrend may face the risk of taking profits and technical corrections. With the Relative Strength Index (RSI) closing in on the overbought territory, the pullback cannot be ruled out. If it fails to sustain above the support level of $32.00, it might face downward pressure with key supports at $31.80 and $31.50. A more robust US Nonfarm Payrolls (NFP) report or hawkish communications from the Federal Reserve

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Commodities Silver

Silver Price Forecast: XAG/USD Set for Next Leg of Upside as Bulls Target Breakout Above $31.00

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  • January 30, 2025
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Silver (XAG/USD) maintains its bullish bias for the third consecutive day and touches a fresh one-month high at around $31.00. The technicals are supportive of the buyers, and most indicators are hinting at more upside. A clear break above the 100-day SMA can propel the pair toward key resistances at $31.50, $32.00, and potentially even $33.00. Any pullback will probably be corrective. Near $30.65, there is strong support, and the 200-day SMA is still around $30.00. Of course, if it breaks to a lower level, silver could head lower to place $29.70 more into focus. KEY LOOKOUTS • A sustained move above the 100-day SMA will likely mark the start of a strong uptrend, and silver can run quickly to $31.50, then $32.00, and even $33.00 into the short term. • The downside protection is at $30.65, while the 200-day SMA stands at around $30.00, which can be a key support zone for buyers. • Momentum indicators are turning positive and indicate continued buying interest, supporting the idea that silver may make an extended upside move. • A break below the psychological $30.00 level could change the sentiment and may lead to a retest of the lower support zones of $29.70 or below. Silver (XAG/USD) tends to hold up as bullish, with a potential breakout above $31.00 likely coming within bullish technical moves. Strength above the 100-day SMA could easily lead to a push toward $31.50 or even $32.00, and then $33.00, should it be utterly valid. Likewise, defying the negativity will be $30.65 and the 200-day SMA near $30.00. However, a break below this key psychological level could trigger a deeper correction toward $29.70 or lower. Traders should watch these critical levels closely as silver navigates its next move. Silver (XAG/USD) is on an upward trajectory again, with breakout potential above $31.00, as several technical indicators go bullish. Still, a relatively strong support in the vicinity of $30.65 and close proximity to $30.00, the 200-day simple moving average (SMA), limit the downfall. A close above the resistances could boost the price significantly to $32.00. • Silver (XAG/USD) is seeing its third straight day of upside, reaching an intraday peak near $31.00 in one month. • A breakout above the 100-day SMA could push prices toward $31.50, $32.00, and possibly $33.00. • Immediate support lies at $30.65, with the 200-day SMA around $30.00 acting as a critical level for buyers. • Momentum indicators show increasing buying pressure, reinforcing the potential for continued upside movement. • A break below the $30.00 psychological level may trigger a decline toward $29.70 or lower. • Sustained buying interest could lead to an extended rally, reversing all previous corrections from the October 2024 multi-year high. • Traders will need to closely monitor price action, as a confirmed breakout or rejection at the key levels will dictate the next move. Silver (XAG/USD) continues to build bullish momentum to a one-month high near $31.00. The price is approaching a critical resistance level at the 100-day SMA, and a breakout above this level could push silver toward $31.50, $32.00, and even $33.00. Technical indicators are supporting this bullish outlook as increased buying pressure is reinforcing the potential for an extended rally. The recent short-covering rally indicates that the corrective decline from October 2024’s multi-year peak may have ended, opening the way for further upside movement. XAG/USD Daily Chart TradingView Prepared by ELLYANA On the downside, immediate support is seen at $30.65, with the 200-day SMA around $30.00 acting as a crucial level for buyers. A break below this psychological mark could trigger a deeper correction, possibly driving prices toward $29.70 or lower. However, as long as silver remains above key support levels, any pullback is likely to be seen as a buying opportunity. These should be watched carefully by traders to see whether there is a confirmed breakout or rejection, which will give the next significant move for XAG/USD. TECHNICAL ANALYSIS Silver (XAG/USD) setup bullish, as the price remains above important support levels and approaches to a critical resistance near the 100-day SMA at $31.00. Momentum indicators have just turned positive again, especially through the RSI and moving averages. Thus, a strong break above it can be interpreted to further add support to potential additional upside breaks that could now touch the following resistances $31.50 then $32.00 followed by $33.00, which are a tough resistance and hence should take out $30.65; it has huge supports, even up to a barrier of its 200 DMA of $30.00 for support. A dip below this could make the mood turn bearish, which can cause a potential retest at $29.70. At large, the technical picture favors bulls, with any short-term correction expected to be seen as a buying opportunity. FORECAST Silver (XAG/USD) looks ready for a higher high since the bullish momentum continues to pick up steam with the price maintaining above critical support levels. A decisive breakout above the 100-day SMA at $31.00 should trigger a strong rally, driving silver toward the $31.50-$31.80 zone, then to the psychological barrier of $32.00. If buying pressure remains strong, silver could target the December swing high at $32.30 and potentially drive gains toward $32.75-$33.00, a level not seen since early November. Technical analysts such as RSI and MACD support a bullish outlook by way of increasing investor confidence in higher price levels. The continuation of the short-covering rally can further fuel upside movement. Again, silver’s improvement has bearish downside risks if it fails to sustain momentum above $31.00. Its resistance appears strong against a pullback back toward the first support at $30.65. If selling pressure increases, the price may test the 200-day SMA at $30.00, which is a significant psychological and technical support level. A confirmed break below $30.00 may shift sentiment bearish, and silver may drop to $29.70 and possibly $29.30. Macro factors such as a strengthening U.S. dollar or rising bond yields could also weigh on silver prices, leading to increased volatility in the near term. However, with key support levels

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Commodities Silver

Silver Price Forecast: XAG/USD Strengthens Amid Bullish Momentum, Eyes Key Resistance Levels

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  • January 29, 2025
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Silver, XAG/USD, maintains its upward trajectory, trading near the weekly high in the mid-$30.00s, and technical indicators suggest further growth. The metal is facing key resistance at $31.00, aligned with the 100-day SMA. A break above this point could trigger a rally towards $31.50 and $32.30. A sustained move above these levels would confirm that the recent correction from its multi-year peak in October 2024 has actually ended, leading to further upside. However, powerful support remains at the 200-day SMA near $30.00 and a breakdown below here could leave silver susceptible to further downside risks, potentially re-testing the $29.00 area. KEY LOOKOUTS • Silver faces strong resistance near the 100-day SMA at $31.00. A decisive breakout above this level could trigger a rally towards $31.50 and the $32.30 region. • The 200-day SMA near the $30.00 psychological mark acts as a crucial support. A break below this level could push silver toward the $29.00 region, intensifying bearish pressure. • Technical indicators are showing renewed positive traction. If buyers can hold the reins, silver may continue to rally, marking the end of its corrective decline from its October 2024 peak. • A sustained move above key resistance levels may trigger short-covering rallies, leading to further upside movement, with the next targets set around $32.00 and the December swing high of $32.30. Silver (XAG/USD) remains bullish, trading near its weekly highs in the mid-$30.00s. A major resistance level at $31.00, coinciding with the 100-day SMA, is a critical barrier; a strong breakout above this level may propel the price towards $31.50 and the $32.30 area. On the downside, significant support at the 200-day SMA around $30.00 acts as an important cushion to bulls, while a breach of the low might place silver vulnerable to further selloffs to the $29.00 region. Technically, some positive momentum in indicators implies the corrective drop from the multi-year peak in October 2024 might have bottomed out. A sustained push above resistance could fuel short-covering rallies, reinforcing the bullish outlook for silver in the near term. Silver (XAG/USD) trades with a bullish bias near its weekly highs, facing key resistance at $31.00. A breakout could trigger a rally towards $31.50 and $32.30, while strong support at $30.00 may prevent further declines. Technical indicators suggest renewed bullish momentum, hinting at potential short-covering rallies. • Silver continues to rise, trading near the weekly high in the mid-$30.00s with positive technical signals. • The 100-day SMA at $31.00 is a key level; a breakout could drive prices toward $31.50 and $32.30. • The 200-day SMA near $30.00 remains strong support; a break below this level could expose silver to further downside risk. • A breakthrough above resistance might lead to short-covering, pushing the advance toward multi-month highs. • If silver can reach $31.50 or higher, then key points will be $32.00 and the high from December at $32.30. • A break beneath the low of the week around $29.70 might continue the downside toward $29.10 and $28.70, a multi-month low from December. •Chart indicators in daily time frames indicate gaining bullish momentum; the corrective phase most likely is already over. Further upside is possible. Silver (XAG/USD) maintains a positive sentiment and trades higher towards its weekly high in the mid-$30.00s. The metal has a crucial resistance area at $31.00, marked by the 100-day SMA. The metal’s potential to break above $31.00 and trigger further upside toward $31.50 and the December high $32.30 could be realized. Technical indicators on the daily chart are gaining positive momentum, reinforcing the bullish outlook. A successful breakout above these levels would indicate that the recent corrective decline from its October 2024 peak has run its course, paving the way for additional upside movement. XAG/USD Daily Chart TradingView Prepared by ELLYANA On the downside, strong support lies at the 200-day SMA, near the $30.00 psychological level. A breakdown through this support will increase bearish pressure, threatening silver with deeper losses toward $29.70 and potentially $28.70-a multi-month low hit in December. Traders should watch these important levels closely, as price action near them will define the metal’s next big move. In general, silver’s technical is bullish, as short-covering rallies are possible when resistance levels are cleared. TECHNICAL ANALYSIS Silver (XAG/USD) exhibits strong bullish momentum based on technical indicators, with price action nearing the key resistance level of $31.00, aligned with the 100-day SMA. A decisive breakout above this level could trigger further upside toward $31.50 and $32.30, confirming a continuation of the bullish trend. The RSI and MACD indicators on the daily chart are gaining positive traction, signaling buying strength. However, if it fails to break above $31.00, it could result in consolidation or a pullback towards the strong support near the 200-day SMA at $30.00. A breakdown below this level could expose silver to further declines toward the $29.70-$29.00 zone, which could intensify bearish pressure. Traders should look for volume spikes and momentum shifts to confirm potential breakouts or reversals. FORECAST Silver (XAG/USD) is trading at its weekly highs with a positive technical outlook, indicating strong bullish momentum. The immediate resistance level to watch is $31.00, marked by the 100-day SMA. A decisive breakout above this level could trigger a short-covering rally, pushing prices toward the $31.50-$31.60 region. Further buying interest can take the rally to the December swing high of $32.30 and, if the momentum continues, silver may even touch the $32.50-$33.00 range in the near term. The technical indicators are also bullish with RSI and MACD, showing that the recent correction from its October 2024 peak is done and silver will continue to rally. Even though there is a positive bias, silver remains vulnerable to downside risks if it fails to break above the key $31.00 resistance. There is strong support at the 200-day SMA near the psychological level of $30.00 that could prevent a deeper pullback. A convincing break below this level might trigger a decline toward $29.70, the weekly low. If selling pressure builds further, silver can fall to around $29.10-$29.00 and

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Commodities Silver

Silver Price Analysis: XAG/USD Remains Under Pressure Near $30 as US Dollar Surge and Nervous Market Sentiment Weigh on the Metal

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  • January 28, 2025
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Silver (XAG/USD) is trading with caution near $30.00, as a surge in the US Dollar and Treasury yields continue to weigh on the upside of the metal. The global market sentiment is risk-averse since technology stocks experienced a sharp sell-off due to fear of competition from cheap AI models coming out of China. This has increased safe-haven demand for the US Dollar, pushing the Dollar Index near 108.00. Technically, Silver is holding above its 200-day EMA at $29.50, indicating a broadly bullish trend, but struggles near key resistance levels around $30.40 and $30.90. Investors await the Federal Reserve’s monetary policy announcement and Jerome Powell’s guidance for clues on interest rate trajectory, which could further influence Silver prices. KEY LOOKOUTS • A strong US Dollar Index near 108.00 amid safe-haven demand could continue to weigh on Silver prices, limiting upside potential despite global market jitters. • Investors are focused on the Federal Reserve’s decision to keep interest rates steady and Jerome Powell’s guidance on the future policy trajectory, impacting bond yields and Silver trends. • It is facing immediate resistance near $30.90, the upside trendline; and near the area of the 50-day EMA located at $30.40. • Overall, risk aversion, linked to the latest round of sell off in technology-related stocks and heightened competition from Chinese AI, serves to perpetuate safe havens such as the US dollar and Silver. Silver (XAG/USD) is under pressure near the $30.00 mark, as a surge in the US Dollar and treasury yields weigh on the metal’s upside momentum. The DXY index has risen to near 108.00 on safe-haven demand due to global selling in tech stocks and increased risk aversion in the market. On the technical side, Silver finds resistance near the 50-day EMA at $30.40 and an upward-sloping trendline around $30.90. The 200-day EMA has provided support around $29.50. The investors are watching out for the Federal Reserve monetary policy statement and Chairman Jerome Powell’s assessment that might make a big difference to the Silver direction in the near term. Silver (XAG/USD) is trading cautiously around $30.00 as the stronger US Dollar and increasing Treasury yields keep upside in check. Investors await the Federal Reserve’s policy decision for further market cues. • Silver (XAG/USD) is trading around $30.00 in a jittery market with increasing US Dollar strength. • Dollar Index (DXY) rises to 108.00, boosted by safe-haven demand due to the sell-off of global technology stocks. • Risk aversion takes the center stage as worries about China’s low-cost AI models weigh on the technology markets and add to market uncertainty. • Silver finds critical resistance at $30.40 (50-day EMA) and $30.90 (up-sloping trendline). • Silver stays positive above the 200-day EMA at $29.50 despite short-term pressure. • Markets await the Fed monetary policy announcement, which is expected to hold interest rates steady at 4.25%-4.50%. • Traders would be looking for Fed Chair Powell’s views on whether the future policy path has a silver lining. Silver (XAG/USD) is treading with caution above the $30.00 hurdle due to its overall weakened upside momentum with a sharper US Dollar and higher Treasury yields. The Dollar Index (DXY) has surged to near 108.00 supported by safe-haven demand amid a global sell-off in technology stocks, fueled by concerns over China’s low-cost AI models for challenging the dominance of the leading chatbots. The market sentiment remains deeply risk-averse, causing increased appeal for the US Dollar, which has added pressure on Silver despite its traditionally safe haven status. On the technical side, Silver is capped by the 50-day EMA at $30.40 and the rising trendline at $30.90, but remains positive above the 200-day EMA at $29.50. XAG/USD Daily Chart TradingView Prepared by ELLYANA Investors are now looking to the Federal Reserve’s monetary policy decision, which is expected to keep the rate-easing cycle on hold and keep rates steady at 4.25%-4.50%. The Fed’s comments, especially from Chairman Jerome Powell, will be crucial in determining the direction of market sentiment and the trend of Treasury yields and the US Dollar. These are the factors that will have a huge impact on Silver prices, which is also responding to the overall risk-off sentiment that is sweeping global markets. Silver will likely remain in a tight trading range until there is clear guidance from the Fed, oscillating between technical levels and macroeconomic drivers. TECHNICAL ANALYSIS Silver (XAG/USD) is testing key levels, with immediate resistance near the 50-day Exponential Moving Average (EMA) at $30.40 and an upward-sloping trendline around $30.90. A sustained move above these levels could open the door to further bullish momentum. On the downside, strong support is observed near the 200-day EMA at $29.50, which aligns with Silver’s broader bullish trend. The 14-day Relative Strength Index (RSI) oscillates within the neutral 40-60 range, signaling a lack of clear directional momentum. Until Silver breaks out of these defined levels, the metal is expected to trade in a sideways pattern, influenced by external macroeconomic factors. FORECAST Silver (XAG/USD) has the potential for an upward breakout if it successfully holds above the 200-day EMA at $29.50 and breaks the immediate resistance at $30.40. An upward move above the rising trendline near $30.90 opens the door to testing higher levels, and the next significant resistance is around $31.50. The metal’s attractiveness may rise further in a risk-sensitive environment, especially if uncertainty in other parts of the world persists or economic conditions support safe haven demand. But more than that, doves at the Federal Reserve or a US Dollar weakening would propel Silver upwards in the following days. And to the downside, Silver is also at risk if the US Dollar will keep on climbing up on the back of higher yields for bonds and risk-off mood. A break below the 200-day EMA at $29.50 would turn negative, with additional losses towards $28.70 or even $28.00 likely. Higher hawkishness from the Fed or stronger than expected US data could further deteriorate the downside risks. A global market risk reduction as well as reduced safe haven demand could

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Commodities Silver

Silver Skyrockets: XAG/USD Hikes to $31 with Trump’s Comments and Weak US Dollar

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  • January 24, 2025
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The Silver price, quoted as XAG/USD, is currently traded near $31.00 per troy ounce, amid various geopolitical events and economic reasons. Recent comments from US President Donald Trump on optimism for a China trade deal, in addition to his request for the Federal Reserve to reduce interest rates, are the major drivers that increased the demand for non-interest-bearing assets like Silver. Second, the weakening US Dollar and decrease in the yields of Treasury further strengthened the uptrend momentum of Silver. With ongoing uncertainties regarding US-China trade negotiations as well as new proposed tariffs with Canada, Mexico, and the European Union, traders are scrambling into safe-haven assets. Combining this together with industrial demand by China, precious metals are still trading at a premium. KEY LOOKOUTS • Silver prices shot up on Friday due to a weakened US Dollar and after President Trump portrayed a positive outlook for US-China trade talks. • President Trump’s remarks of demanding an instant Fed cut and President Trump’s positive tone about US-China trade talks with China have exponentially placed demand for safety in Silver. • A DXY drop below 107.00 and Treasury yields lower led to pushing the prices of non-yielding assets, such as Silver, up in the global market. • Hopefulness in US-China trade talks will bring increased industrial demand in Silver as China is the world’s largest consumer of metals and manufacturing hub. Silver prices, XAG/USD have increased to nearly $31.00 per troy ounce on geopolitical optimism and some economic shifts. Latest comments of President Trump that there is hope for trade agreement between US and China, in addition to his fresh demand for immediate Federal Reserve rate cut have really fostered this growing demand for non-yielding assets, including Silver. The US Dollar does currently remain weak as the Dollar Index DXY descends below 107.00 even as Treasury yields continue to fall. Industrial demand for Silver may also rise as China, the world’s largest consumer of metals, could benefit from improved trade relations, driving further strength in the precious metal. Silver prices (XAG/USD) rose to near $31.00 per troy ounce as President Trump’s positive comments on US-China trade talks, a weaker US Dollar, and declining Treasury yields fueled the rally. The move is attributed to rising safe-haven and industrial demand for the precious metal. • XAG/USD rises near $31.00 per troy ounce, recovering recent losses. • Optimism on US-China trade talks boosts safe-haven demand for Silver. • Dollar Index (DXY) falls below 107.00, supporting Silver prices. • US Treasury yields drop, enhancing the appeal of non-yielding assets like Silver. • Trade optimism strengthens industrial demand for Silver, especially from China. • Trump’s call for immediate Federal Reserve rate cuts drives market sentiment. • Proposed tariffs on Canada, Mexico, and the EU add to market uncertainty, favoring safe-haven investments. Silver prices (XAG/USD) surged close to $31.00 per troy ounce during Friday’s Asian trading session, driven by a blend of economic and geopolitical factors. President Trump’s optimistic comments about US-China trade negotiations and his call for immediate Federal Reserve rate cuts have sparked increased demand for safe-haven assets like Silver. The precious metal also gained from a weakening US Dollar, with the Dollar Index (DXY) falling below 107.00, and lower US Treasury yields. These factors have enhanced the appeal of non-yielding assets, providing a strong foundation for Silver’s rally. XAG/USD Daily Price Chart Source: TradingView Prepared By ELLYANA Trade optimism could further enhance industrial demand for Silver since China is the world’s biggest consumer of metals and might resume manufacturing activities with improved trade conditions. Trump’s claims about avoiding tariffs with China and placing tariffs on Canada, Mexico, and the EU have kept world markets in caution, and such anxiety has continued safe-haven demand. Given that market participants keenly watch US-China relations and actions by the Federal Reserve on policy, silver is in a prime position to keep rising even in an increasingly uncertain global economy. TECHNICAL ANALYSIS Silver (XAG/USD) has been on a healthy bullish run, breaking key resistance areas near $30.50 and getting close to the psychological area of $31.00. The upward trajectory is supported by rising moving averages, where the 50-day MA crosses above the 200-day MA, forming a bullish golden cross pattern. Momentum indicators such as the Relative Strength Index (RSI) hover near overbought territory, suggesting sustained buying interest but also caution for potential pullbacks. Additionally, the Fibonacci retracement levels show $31.00 as a critical area of resistance, with further upside targeting $31.50 and $32.00. Support lies around $30.00, and a break below might invite bearish pressure. Traders are looking for consolidations to confirm their next directional move. FORECAST Silver prices (XAG/USD) can be expected to continue higher on the back of supportive macroeconomic factors: a weakening US Dollar and a decreasing Treasury yield. The psychological level of $31.00 is a resistance; a firm breakout above the level may pave way to $31.50 and $32.00. Positive development on US-China trade talks with China, that is the silver’s largest customer, also shows positive industrial demand increases prices. It is supported from the short-to-medium term as the golden cross pattern and tremendous buying momentum make it bullish on technical indicators. With the bullish momentum being very strong, Silver might also be on the lookout for potential pullbacks with overbought conditions showing on the RSI, and this pullback could be toward the $30.50 support area if the metal can’t hold it up at the $31.00 area. Otherwise, a better-than-expected US economic report or some hawkish comments from Fed officials would be further strengthening the US Dollar to continue hurting Silver prices. Further downside risks are driven by reduced safe-haven demand if geopolitical uncertainties ease or if industrial demand expectations weaken. Key support levels to watch include $30.00 and $29.50, where buyers may look to re-enter the market.

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Commodities Silver

XAG/USD Technical Setup Signals Caution Despite Recent Silver Price Gains

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  • January 15, 2025
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Silver (XAG/USD) has managed to reclaim the $30.00 mark, which drew some buying interest for the second consecutive day. However, despite the recent bounce, the overall technical setup suggests caution for bullish traders. The price has been following a well-established downtrend, marked by a descending channel since the October highs near $35.00. Oscillators on the daily chart still haven’t bounced back with strong positive momentum even if it’s rebounding from bearish territory; thus, any upward momentum might be challenged. The most important levels of interest will be at $30.45, then the 100-day Simple Moving Average at around $31.00. A strong thrust above those will probably terminate the recent correction and set it in motion towards higher gains. Conversely, failure to overcome these obstacles could again push XAG/USD lower down with renewed force, particularly if mid-$29.00s support gives way. KEY LOOKOUTS • XAG/USD resistance is seen at $30.45, at the top of the descending channel and a level where an upside breakout or reversal can occur. • The 100-day SMA stands at $31.00 and is also acting as a level of resistance, suggesting more price appreciation is likely if broken. • The mid-$29.00s offers initial support; a breakdown below there could be the catalyst for a fresh leg lower, to $28.75-$28.70. Silver (XAG/USD) has reclaimed the $30.00 level but the technical perspective is still not optimistic. Resistance is seen close to $30.45-the top of the descending channel-while further barriers are seen in the 100-day SMA near $31.00. A sustained break above those levels could reverse the trend. However, failure to clear these resistance levels and a dip below the mid-$29.00s support could lead to renewed downside pressure, making it important for traders to monitor these key levels closely. Silver (XAG/USD) is testing resistance near $30.45 and the 100-day SMA at $31.00. A break above these levels could signal further upside, while support at mid-$29.00s remains crucial for downside risk. • XAG/USD is capped on the upside around $30.45, the upper side of the falling channel. • The 100-day Simple Moving Average at $31.00 is a next key resistance level for silver. • A support level exists around the mid-$29.00s. A break below this level might signal further downward momentum. • The price remains in a falling channel, signifying a trend well established, and little room for short-term upside. • Daily chart oscillators have come out of bearish territory but do not have strong bullish momentum. • Break above $31.00 could signal the end of the corrective decline and open up more upside. • Drop below mid-$29.00s support would confirm further weakness, with a potential target of $28.75-$28.70 support Silver (XAG/USD) has managed to recover above the $30.00 mark, attracting buying interest for the second consecutive day. However, the technical setup should warn the bullish traders. The price has been in a channel, breaking down since the October peak near $35.00. So, the downtrend is rather solid. The latest uptick was neutral for the oscillators on the daily chart, and there was no strong bullish momentum. The price has approached resistance near $30.45, at which the upper boundary of the descending channel was met. Another obstacle lies close to the 100-day Simple Moving Average at $31.00, which may become an important barrier in case of further upside. Should silver be able to break through the resistance levels outlined above, this could be an indication that the corrective phase has ended and opens the way for further increases. Targets are likely to remain at $31.70 and the $32.00 mark, but the December swing high around $32.30-$32.35 is the final resistance. Downside support could be found immediately in the mid-$29.00s and a break of this level will lead to increased selling pressure again. In such a case, silver is expected to test levels around $28.75-$28.70, confirming additional downward momentum. Traders should pay close attention to these technical levels to identify the next possible move in XAG/USD. TECHNICAL ANALYSIS Silver (XAG/USD) has reclaimed the $30.00 level, which is a short-term bounce, but the overall technical view is to be cautious. The price is testing resistance at the upper boundary of the descending channel near $30.45, which has been a consistent barrier since the October highs. This channel indicates a well-established downtrend, thus limiting the upside potential in the near term. Oscillators on the daily chart have recovered from bearish territory but remain neutral, which suggests that silver lacks strong bullish momentum. The 100-day Simple Moving Average (SMA), currently just above $31.00, will be an important resistance point. A break and sustained move above $31.00 would indicate the end of the corrective decline and open the door for further upside, potentially targeting the $31.70 level and the $32.00 mark. On the downside, immediate support is found around the mid-$29.00s, specifically from Monday’s low. A break below this support level could reinforce the bearish setup and send silver prices back toward the $28.75-$28.70 region, marking the December lows. XAG/USD Daily Price Chart Sources: TradingView, Prepared by ELLYANA FORECAST Silver (XAG/USD) may remain bullish if the price can penetrate the resistance area. The immediate strong resistance stands at $30.45, the top side of the descending channel. If silver prices break through this level, the next one is at the 100-day Simple Moving Average (SMA) around $31.00. A break above $31.00 would be a sign that the corrective decline might be ending and could lead to further upside, with the $31.70 and $32.00 levels the next targets of interest, and the December swing high near $32.30-$32.35 the next significant resistance. The downside support in the mid-$29.00s is present and a break below this region will reinforce the bearish sentiment. Silver might drift toward the $28.75-$28.70 zone, which are the December lows. Pressure below this support level may further indicate that the broader downtrend is intact and that it can test even lower levels. A sustained break below $28.70 may open up the gates for deeper losses and confirm a more prolonged bearish phase.

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