Silver Price Analysis: XAG/USD plummets to a two-month low, below the 200-day EMA

XAG/USD sinks below key $22.96, the 200-day EMA level.
Bearish RSI and RoC indicate a strong sell-off, warranting further XAG/USD downside.
XAG/USD upside resistance was found at a $23.00 handle, followed by a challenge of the 100-day EMA.

Christian Borjon Valencia FXStreet

Silver price pierces below the 200-day Exponential Moving Average (EMA) of $22.96 as sellers pile in, dragging prices towards a new two-month low of $22.50, as high US Treasury bond yields pressure the precious metals segment. At the time of writing, XAG/USD trades at $22.75, while Gold (XAU/USD) spot exchanges hands at $1931.02, down 1.64% and 0.23%, respectively.

Risk-off sentiment is weighing on the precious metals segment. Investors remain uncertain as the Fed Chair Jerome Powell commences his two-day testimony at the US Congress, which you can follow here. The US 10-year Treasury note yields 3.775% and gains 4.6 bps, while US real yields, directly influencing XAG/USD’s prices, climb five bps to 1.555%.

XAG/USD Price Analysis: Technical outlook

The XAG/USD remains neutral to downward biased, though it could shift to the downside if XAG/USD prints a daily close below the May 25 swing low of $22.68. That would mean the Silver price breaking the 200-day Exponential Moving Average (EMA) threshold and, from a technical perspective, turning XAG/USD bearish.

Further cementing XAG/USD bearish case is the Relative Strength Index (RSI) indicator at negative territory, while the three-day Rate of Change (RoC) continues to plunge as sellers gain momentum.

That said, in that outcome, XAG/USD could dive towards the March 21 daily low at $22.14 before challenging the $22.00 figure. A breach of the latter will expose the March 16 low at $21.47, followed by the $21.00 mark.

Conversely, if XAG/USD reclaims the 200-day EMA, that could expose the $23.00 handle on the upside, followed by the 100-day EMA at $23.52.

XAG/USD Price Action – Daily chart

XAG/USD

Overview
Today last price	22.73
Today Daily Change	-0.45
Today Daily Change %	-1.94
Today daily open	23.18

Trends
Daily SMA20	23.63
Daily SMA50	24.37
Daily SMA100	23.36
Daily SMA200	22.44

Levels
Previous Daily High	24.03
Previous Daily Low	23.06
Previous Weekly High	24.4
Previous Weekly Low	23.22
Previous Monthly High	26.14
Previous Monthly Low	22.68
Daily Fibonacci 38.2%	23.43
Daily Fibonacci 61.8%	23.66
Daily Pivot Point S1	22.81
Daily Pivot Point S2	22.45
Daily Pivot Point S3	21.84
Daily Pivot Point R1	23.78
Daily Pivot Point R2	24.39
Daily Pivot Point R3	24.75

Author

Christian Borjon Valencia

FXStreet

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

AUD/USD trims losses, still near 0.6900

AUD/USD remains well on the defensive, adding to Wednesday’s pullback and trading close to the key 0.6900 contention zone ahead of the opening bell in Asia. Discouraging prints from the Australian labour market report have weighed on the Aussie, which has remained unable to take advantage from the marked pullback in the Greenback.

USD/JPY slides back below 158.00 as USD reverses post-CPI gains

USD/JPY extends the previous day's pullback from a three-week high, attracting follow-through selling and sliding below 158.00 during Thursday's Asian session. Traders remain on high alert amid speculation that authorities will step in to prop up the Japanese Yen. The US Dollar, meanwhile, reverses Wednesday's hot CPI-led gains to April 2025 highs as US bond yields retreat on China bond-buying talk, further pressuring the pair.

Gold: Upside remains capped by $4,200

Gold regains the smile and leaves behind three consecutive days of losses, advancing to the $4,170 region per troy ounce on Thursday. The precious metal’s recovery comes amid the fresh offered stance in the Greenback and declining US Treasury yields while investors remain cautious ahead of the Fed’s Warsh speech on Friday.

Bitcoin rebounds to $82,000 as PPI hits 6.3%, nearly $1B liquidated

Bitcoin (BTC) recovered near $82,000 on Thursday after briefly falling below $80,000, paring losses triggered by hotter-than-expected US inflation data. September PPI inflation rose 6.3% YoY, exceeding forecasts of 5.3% and marking its second-highest level since November 2022. Core PPI inflation climbed to 5% annually, above expectations of 4.4%.

The Iran war will eventually end. Tariffs won't. Here's the problem

Two cost shocks are in the September Consumer Price Index (CPI), and they have different half-lives. Energy is up 20.4% on the year and accounts for about 1.3 points of the 3.7% headline, and that shock reverses when Oil does: Brent was back at its pre-war price on July 1 and above $100 again by the end of the month, after the ceasefire collapsed on July 8.

Everyone's dumping Gold after hot US inflation. Here's why $4,100 could be a floor, not a cliff

Gold (XAU/USD) is recovering from a sharp sell-off triggered by hotter-than-expected United States (US) inflation data released on Wednesday. The precious metal briefly plunged toward $4,073 as investors increased their bets on further Federal Reserve (Fed) interest rate hikes before recovering as US Treasury yields and the US Dollar (USD) reversed their initial gains.