Silver Price Forecast: XAG/USD Steady Above $36.50 After Three-Day Drop

Silver Price Forecast: XAG/USD Steady Above $36.50 After Three-Day Drop

Thursday, July 10 – Silver (XAG/USD) is trading steadily above $36.50 after bouncing back from a three-day decline, with investors once again gravitating toward safe-haven assets amid mounting global trade tensions and falling US Treasury yields.

Tariff Tensions Renew Safe-Haven Demand

After briefly dipping to $36.30 during the Asian session, silver rebounded as market participants reacted to US President Donald Trump's latest tariff announcement. The US will impose tariffs of 20% to 50% on eight additional countries—including Algeria, Moldova, and the Philippines—starting August 1, fueling global trade uncertainty and bolstering demand for precious metals.

Fed Minutes Reinforce Dovish Bias

Adding to silver’s strength, the Federal Reserve's June meeting minutes, released Wednesday, revealed broad support for at least one interest rate cut this year. The Fed acknowledged modest inflationary pressures from tariffs but downplayed their long-term impact, signaling that policy easing could be on the table if risks persist.

Technical Outlook: Range-Bound but Bullish

XAG/USD remains locked within a $35.50–$37.00 trading range, though price action continues to hold inside a broader ascending channel, supporting the bullish bias over the medium term. A breakout above $37.00 could open the door toward fresh highs, while support remains firm near $36.30.

“Silver’s safe-haven appeal remains intact as markets digest the geopolitical implications of Trump's aggressive trade stance,” analysts note.

Key Levels to Watch

• Resistance: $36.80 / $37.25
• Support: $36.30 / $35.50
• Bias: Neutral to bullish in the short term