Silver Price Forecast: XAG/USD Explodes Above $34 On US Tariff Turmoil

By Christian Borjon Valencia of FX Street

Editor • Mar 27, 2025 at 7:20 PM EDT

Silver price rallies sharply on Thursday, clears the $34.00 mark as uncertainty about US trade policies, regarding 25% tariffs in all cars, increased appetite for the precious metal.

Silver, Bars, 5000 Grams, Real Value

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Silver clears $34.23 resistance, eyes last year’s high at $34.86 and potentially $35.00 for first time since 2012.
US auto tariffs trigger global uncertainty, fueling strong demand for safe-haven metals like Silver.
Key support now at $34.00; breakdown may expose $33.51 and psychological $33.00 level.

Silver price rallies sharply on Thursday, clears the $34.00 mark as uncertainty about US trade policies, regarding 25% tariffs in all cars, increased appetite for the precious metal. As of writing, the XAG/USD trades at #34.38, up over 2.20%

XAG/USD Price Forecast: Technical outlook

On Wednesday I wrote “After registering a solid rally on Tuesday, Silver failed to break the $34.00 mark, which opened the door for sellers.” Finally, buyers stepped in and pushed Silver’s price higher, clearing the previous year-to-date (YTD) high of $34.23, opening the door to test last year’s high at $34.86. On further strength, the grey metal could reach $35.00, a level last seen in October 2012. Next key resistance levels lie at $37.49, the February 2012 peak, and the August 2011 swing high of $44.22.

Conversely, if XAG/USD slips beneath $34.00, immediate support emerges at the March 26 low of $33.51. Once hurdled, the next stop is $33.00.

XAG/USD Price Chart – Daily

More By This Author:

Gold Price Hits Record High As Trump Tariffs Trigger Trade War Fears
Mexican Peso Tanks To 2-Week Low As Trump’s Auto Tariffs Roil Markets
Silver Price Forecast: XAG/USD Retreats From 4-Day Peak, Beneath $34

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