Silver (XAG/USD) is currently trading at about $32.60, bouncing back from earlier lows of around $32.13 after two days of losses. This rise is boosted by a weaker US Dollar and strong demand for industrial metals, even with decreasing geopolitical tensions. Recently, positive steps in global politics have reduced silver’s appeal as a safe haven. Ongoing discussions between Russia and Ukraine, along with a truce between the US and China, have helped ease trade tensions. Still, silver benefits from solid industrial demand, with forecasts predicting usage will exceed 700 million ounces by 2025, driven by industries like electric vehicles and solar panels. At the same time, the US Dollar Index is close to 100.00, hitting a weekly low after Moody’s downgraded the US credit rating from Aaa to Aa1. Worries about US government debt and budget deficits have made bondholders more cautious, putting pressure on the Dollar and benefiting Dollar-priced commodities like silver. From a technical standpoint, silver is moving within a symmetrical triangle pattern, finding support around $32.00 and facing resistance from descending trendlines. The 21-day EMA is at $32.56 and the RSI is at 50, showing mixed signals, while MACD shows a possible bullish crossover. If silver rises above $33.00, it could reach $34.00. However, a drop below $32.00 may push prices to the $31.00–$30.75 range. Considering the recent move to $32.60 from $32.13, we see a short-term bounce, although the bigger picture remains uncertain. The recent two-day decline has paused for now, supported by a softer US Dollar and consistent industrial demand. However, underlying factors are more complex. While geopolitical tensions are easing—often a negative sign for metals like silver—industrial activity remains strong. The ongoing shift toward cleaner technologies continues to drive silver demand. The forecast of over 700 million ounces needed by 2025 reinforces that this is not just an investment trend but reflects actual market needs. Moody’s downgrade of the US credit rating to Aa1 is impacting the stability of the Dollar, which has caused silver prices to rise. Investors are becoming more concerned about US government debt levels, maintaining the USD Index near 100.00. A weaker Dollar typically benefits metals priced in Dollars, making them cheaper for non-Dollar buyers. Technically, we’re seeing silver consolidate rather than trend decisively. The symmetrical triangle indicates that neither the bulls nor the bears have gained full control. Support remains around $32.00, and resistance from trendlines is tightening. The price near the 21-day moving average at $32.56 deserves attention—it’s close to the current price, and the RSI is neutral at 50. However, the MACD is hinting at a potential bullish crossover, which could signal a shift in momentum. For traders, if silver surpasses $33.00, it may push prices toward $34.00, creating opportunities for breakout strategies. Conversely, if it drops below $32.00, it could lead to further declines to $31.00 or even $30.75, particularly if broader market forces remain unfavorable. Let’s remain vigilant around resistance areas, while also recognizing the strength from industrial demand. Movements near the triangle boundaries will need careful observation, especially as volatility may increase. Near-term strategies should consider a wider trading range, not just the extremes.

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