Silver Price Outlook: XAG/USD Holds at $36.60, Set for 1.80% Weekly Gain

Silver Price Outlook: XAG/USD Set for Weekly Gains Above $36.60

The price of silver (XAG/USD) stabilizes at $36.60 as the Friday Asian session begins, holding steady after touching a weekly high of $36.83. The grey metal is on track to close the week with over 1.80% gains, supported by sustained bullish momentum in the commodity markets.

XAG/USD Technical Forecast: Bulls in Control

Silver continues to exhibit a bullish technical pattern, with the formation of higher highs and higher lows throughout the week. This structure indicates that buyers remain active, pushing the trend upward.

The Relative Strength Index (RSI), which surged over the past three days, has now stabilized within bullish territory. This pause suggests that buyers may be regrouping before attempting to break above key resistance levels.

Key Technical Levels to Watch

• Resistance:
  • $37.00 – Immediate psychological barrier
  • $37.31 – Year-to-date (YTD) high
• Support:
  • $36.00 – Minor support
  • $35.29 – Stronger support level from earlier consolidation

Market Sentiment and What’s Next

With precious metals continuing to attract investors amid inflation concerns and central bank policy uncertainty, silver remains a popular hedge. If momentum continues, XAG/USD may test the $37.00 resistance soon.

For further updates, see our in-depth precious metals analysis and daily commodity forecasts.