Silver Price Forecast: Silver prices jump over 3.5% this week as US Dollar slides and hopes of a Fed rate cut grow. Will Silver hit $39 soon? Here’s the full technical analysis.
Silver price forecast
Silver Price Forecast: XAG/USD Rises to Near $33.00
The US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, has dropped over 1%, hovering around 98.00 — its lowest level since March 2022. The decline in the US Dollar is mirrored by a sharp drop in the 2-year US Treasury yield, which has fallen more than 1% to 3.75%.
Spot Silver Below $24.20 Target Price $23.60—$22.90
Spot Silver Price Forecast: Silver remains on the defensive for the fourth successive day on Monday and drops to a one-week low during the early part of the European session, though manages to hold above the $24.10 round-figure mark.
Spot Silver Price Forecast: Buy on Dips, Healthy Resistance $20.20
Spot Silver Price Forecast: XAG/USD reverses its early lost ground and moves back to the $19.80 area during the first half of the European session on Tuesday. The white metal is currently placed just below a nearly four-week high touched the previous day and seems poised to prolong its recent recovery from the $17.55 area, or over a two-year low.
Silver Price Forecast: Silver Hits New multi-month low, August 11.4% Fall
Silver Price Forecast: Spot silver entered new month firmly in red and hit new lowest in over two-years on Thursday, in extension of August’s 11.4% fall (the biggest monthly loss since September 2020).
Silver Price Forecast: Technical Set-up Favors Bearish Traders
Silver Price Forecast: The technical set-up seems tilted firmly in favour of bearish traders and supports prospects for an extension of the ongoing depreciating move for the silver (White Metal). Hence, a subsequent slide below the $21.00 mark, towards challenging the YTD low around the $20.45 area touched on May 13, now looks like a distinct possibility.
Silver Price Forecast: Below $22, Sell on Rise – Neal Bhai
Silver Price Forecast: Silver struggled to gain any meaningful traction and oscillated in a narrow trading band for the second successive day on Wednesday. The Silver (White Metal) was last seen trading around the $21.60——-$21.65 region, down nearly 0.10% during the early North American session.