Silver Price Forecast: XAG/USD Holds Steady Near $34.50 As Bulls Take A Breather

By Christian Borjon Valencia of FX Street

Editor • Jun 4, 2025 at 4:26 PM EDT

Silver trades flat but holds gains after strongest rally since October 2024, keeping bullish structure intact.

Silver, Bars, 5000 Grams, Real Value

Image Source: Pixabay

Silver price consolidated during Wednesday’s session, trading almost flat near $34.50, as traders seem reluctant to push the metal’s prices outside of the $34.00-$34.50 range.

XAG/USD Price Forecast: Technical outlook

Technically, Silver remains bullish-biased, though buyers are taking a breather after Monday’s over 5% gain, which pushed XAG/USD from around $33.00 to $34.50, the most significant gain since October 18, 2024, when Silver gained 6.40%.

As Silver makes higher highs and higher lows and has broken the previous two peaks seen near $34.51, the grey metal seems poised to challenge the $35.00 figure. A decisive break could send XAG/USD to challenge 13-year highs at $37.49, the February 29, 2012, daily high.

Conversely, a daily close of XAG/USD below the March 28 peak of $34.58 would likely result in a decline towards $34.00. In the event of further weakness, the next support level would be the May 22 peak, which has since turned into support at $33.69.

XAG/USD Price Chart – Daily

(Click on image to enlarge)

More By This Author:

Gold Price Surges On Weak US ISM Report; Trade Tensions Boost Safe Haven Demand
EUR/USD Tumbles Below 1.14 On U.S. Data As Trade Tensions Resurface
Gold Price Falls Over 1% As Strong U.S. Jobs Data Lifts U.S. Dollar

Disclaimer:

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Comments

Back to all articles