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Silver Price Analysis: XAG/USD outshines Gold, near YTD highs despite high US yields

  • Silver's bullish streak leads above $25.00, defying broader market trends with over 1.40% gains.
  • A new year-to-date high at $25.44 highlights XAG/USD’s resilience, with $26.00 now in sight as next resistance.
  • Should Silver retreat below $25.00, a move towards $24.50 and potentially $24.01 could unfold, testing buyer strength.

Silver's price shines on Friday and registers solid gains of more than 1.40%, shrugging off Gold’s two consecutive days of losses. It rises 1.52%, trading at $25.18 a troy ounce at the time of writing. XAG/USD advanced even though the Greenback remains strong, underpinned by high US Treasury bond yields.

XAG/USD Price Analysis: Technical outlook

During the session, Silver printed a new year-to-date (YTD) high of $25.44, but the advance toward $26.00 was capped by an upslope support trendline that turned resistance. That sent XAG/USD retreating toward the current price levels. Nevertheless, the Relative Strength Index (RSI) indicator is still bullish, indicating that bullish momentum remains in charge, and the $26.00 resistance level could be up for grabs.

On the other hand, if XAG/USD falls below $25.00, sellers could launch an assault towards the $24.50 area, followed by the March 12 daily low of $24.01.

XAG/USD Price Action – Daily Chart

XAG/USD

Overview
Today last price25.19
Today Daily Change0.36
Today Daily Change %1.45
Today daily open24.83
 
Trends
Daily SMA2023.51
Daily SMA5023.05
Daily SMA10023.35
Daily SMA20023.31
 
Levels
Previous Daily High25.16
Previous Daily Low24.74
Previous Weekly High24.64
Previous Weekly Low23.02
Previous Monthly High23.5
Previous Monthly Low21.93
Daily Fibonacci 38.2%24.9
Daily Fibonacci 61.8%25
Daily Pivot Point S124.66
Daily Pivot Point S224.49
Daily Pivot Point S324.24
Daily Pivot Point R125.08
Daily Pivot Point R225.33
Daily Pivot Point R325.5

Author

Christian Borjon Valencia

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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