• The white-metal drops as the US 10-year bond yield rise nearly six basis points, underpinning the greenback.
  • The US Dollar Index, which measures the buck’s performance against six rivals, advances almost 0.25%.
  • XAG/USD 1-hour chart has a downward bias, as shown by hourly simple moving averages (SMA’s) residing above the price.

Silver (XAG/USD) retreats from Friday’s gains, slumps almost 1%, trading at $22.22 during the New York session at the time of writing. Safe-haven assets like silver extend their losses amid reports that the COVID.19 omicron variant, although contagious, seems to cause mild symptoms, propelling equity prices higher. 

Additionally, US bond yields, which correlates inversely with precious metals prices, are rising, a headwind for non-yielding assets. The US 10-year Treasury yield advances five basis points, up to 1.397%, underpins the greenback, with the US Dollar Index rising 0.23%, at 96.414.

In the overnight session, the white metal peaked around the 1-hour 100-simple moving average (SMA) at $22.58, then throughout the day extended its losses, dropping as low as $22.10, rebounding up to the current price.

XAG/USD Price Forecast: Technical outlook

Silver (XAG/USD) in the 1-hour chart depicts a bearish bias, attributed to the 1-hour simple moving averages (SMA’s) residing above the spot price. Also, the confluence of the 50-SMA and the daily central pivot point at $22.37, unsuccessfully tested three times, appears to be a strong selling level for XAG/USD bears. 

In the outcome of extending further down, the first support would be the S1 daily pivot at $22.16. A break below that level would expose crucial support levels. Friday’s low at $22.01, followed by S2 daily pivot at $21.81.

On the flip side, the confluence of December 3 and the 100-SMA around the  $22.51-56 would be the first resistance, followed by the R1 pivot at $22.72, followed by the R2 daily pivot at $22.92.


Today last price 22.25
Today Daily Change -0.30
Today Daily Change % -1.33
Today daily open 22.55
Daily SMA20 23.96
Daily SMA50 23.57
Daily SMA100 23.8
Daily SMA200 25.09
Previous Daily High 22.58
Previous Daily Low 22.04
Previous Weekly High 23.44
Previous Weekly Low 22.04
Previous Monthly High 25.41
Previous Monthly Low 22.69
Daily Fibonacci 38.2% 22.37
Daily Fibonacci 61.8% 22.25
Daily Pivot Point S1 22.2
Daily Pivot Point S2 21.85
Daily Pivot Point S3 21.66
Daily Pivot Point R1 22.74
Daily Pivot Point R2 22.93
Daily Pivot Point R3 23.28



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content

Recommended content

Editors’ Picks

EUR/USD holds higher ground near 1.0200 amid upbeat mood

EUR/USD holds higher ground near 1.0200 amid upbeat mood

EUR/USD is trading close to 1.0200 after the Eurozone Sentix data improved slightly in August. The US dollar pares strong NFP-inspired gains amid risk-on flows. Moody’s cut Italy’s credit rating amid political jitters. US-China tensions over Taiwan loom.


GBP/USD clings to gains below 1.2100 amid USD retreat

GBP/USD clings to gains below 1.2100 amid USD retreat

GBP/USD is holding onto the recovery gains below 1.2100, supported by a weaker US dollar amid a positive shift in risk sentiment. Bumper US NFP data ramped up aggressive Fed tightening expectations. UK political woes and a dovish BOE rate hike could cap the pound's upside. 


Gold needs to crack $1,763 to extend the downside

Gold needs to crack $1,763 to extend the downside

Gold price nurses losses after impressive US NFP-inspired sell-off. US dollar eases in tandem with the Treasury yields amid a better mood. XAU/USD looks south towards $1,750, as 75 bps Sept Fed rate hike bets rise.

Gold News

Top 3 Cryptos Price Prediction: Faux strength or resurgence of bullish momentum?

Top 3 Cryptos Price Prediction: Faux strength or resurgence of bullish momentum?

Bitcoin price shows a resurgence of buying pressure as the eastern markets open fresh to a new week. This development could turn sour if BTC fails to overcome a significant hurdle.

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!