• 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

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD accelerates slump, approaches 0.1300

The shared currency is among the weakest dollar’s rivals. EUR/USD trades around 1.1320 and is near its weekly low. Elsewhere, the greenback weakened after soft US employment-related figures and as stocks rallied.


GBP/USD holds above 1.3600 as dollar fails to capitalize on US data

GBP/USD tested 1.3600 earlier in the day but managed to stage a recovery in the early American session. The greenback is having a hard time gathering strength as investors assess the mixed macroeconomic data releases from the US.


Gold bulls looking for a re-test of November high at 1,877.15

Gold resumed its advance after a short-lived consolidative stage, reaching a fresh two-month high of $1,847.92 a troy ounce. The dollar came under renewed selling pressure after the US released mixed economic figures.

Gold News

Facebook and Instagram join the NFT mania

NFTs exploded in popularity in 2021, driving Meta to offer users the feature to create, display and sell digital collectibles and art on its social media platforms. Meta is developing the feature to enable the multi-billion userbase to delve into NFTs. 

Read more

Are equities the markets' canary? Premium

Equities have had a difficult New Year. Interest rates are rising, growth is looking dicey and covid's grip on the global economy and market psychology is unflinching. Join our analysts for an examination of this most unsettled moment in the global economy.

Read more