Silver Price Forecast: XAG/USD rises to near $64.00 as oil prices decline - TradingKey

AI desk brief

Silver is trading around $63.80/oz, recovering from prior losses as lower oil prices ease inflation fears and provide some support to non-yielding metals. Near-term upside is capped by hawkish Fed policy, with the article citing a 25 bp rate hike to 3.75%-4.00% and a further hike still priced by markets at about 49.8% for October.

Technically, XAG/USD remains below the 9-period EMA at $64.36 and the 50-period EMA at $64.70, keeping the bias bearish-to-consolidative. A break above $64.70 would be needed to reopen a stronger bullish phase, while a move toward RSI 40 would signal growing downside pressure.