Silver price advances over 4% after bouncing off daily lows of $61.51 after US President Donald Trump cancelled scheduled attacks against Iran this evening, saying that final points have been approved. At the time of writing, the XAG/USD trades at $65.91.
XAG/USD Price Forecast: Technical outlook
Silver turned downward biased. Even though it has recovered some ground, it remains below the 200-day Simple Moving Average (SMA) of $68.31, which is used to signal changes in the asset's direction.
The Relative Strength Index (RSI) exited oversold territory, an indication that buyers moved in, but the index remains below the 50-neutral level, suggesting the white metal remains tilted to the downside.
If Silver rises past the $67.00 mark, this would open the door to challenge the 200-day SMA. Above this level, the next stop would be the $70.00 milestone.
On the bearish side, the first support for XAG/USD is the current week’s low at $61.50. A breach of the latter will expose the $60.00 mark, followed by the November 13, 2025, high turned support at $54.39.
XAG/USD Price Chart – Daily
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