Silver Price Forecast: XAG/USD trades above $70.00, nine-day EMA, wedge confluence
FXStreet
Last updated: June 15, 2026
XAG/USD is experiencing a third consecutive day of gains, trading near $70.30. Technical analysis suggests a potential bullish reversal as the spot price breaks above a falling wedge pattern. However, near-term sentiment remains bearish with prices below the 50-day EMA.
- Silver is a highly traded precious metal, historically valued as a store of value and medium of exchange, and used for portfolio diversification, intrinsic value, and hedging against inflation.
- Investment in Silver can be through physical forms like coins and bars, or via Exchange Traded Funds (ETFs).
- Silver prices are influenced by geopolitical instability, recession fears (safe-haven status), interest rates (inverse relationship), and US Dollar strength (inverse relationship).
- Other price drivers include investment demand, mining supply, recycling rates, and industrial demand, particularly in electronics and solar energy due to its high conductivity.
- Economic dynamics in major economies like the US, China (industrial use), and India (jewelry demand) also impact Silver prices.
- Silver prices generally follow Gold's movements due to their similar safe-haven status. The Gold/Silver ratio is used to assess their relative valuations, with high ratios potentially indicating undervalued Silver.
- Immediate resistance is observed at the 50-day EMA ($74.55), with a break above potentially leading to a test of the three-month high ($90.03).
- Immediate support is at the nine-day EMA ($69.16), with a pullback within the falling wedge possibly pushing prices towards the lower boundary ($61.80) and the six-month low ($61.01).
