Silver

Can silver and copper hold their ground, or are sharper declines on the horizon? The price action suggests a resumption of the bearish trend could be in the cards.

Gold and silver prices are bouncing back, fuelled by easing pressure from lower US Treasury yields and a softer US dollar. But can the move build into something greater? Here’s what’s driving the price action and the setups worth watching.

Silver prices sold off quickly after a failed breakout at 35. But last week’s test at the psychological level of 30 has so far helped bulls to get back into the matter and silver prices now have bullish short-term price action.

USDJPY, Silver Forecast: The US Dollar’s rally has pushed the yen to levels increasing Bank of Japan intervention risks and pressured silver to retest a critical yearly trendline, raising caution over potential further upward movements in the dollar.

Gold and silver could be primed for a recovery as US bond yields show signs of consolidation following their rapid climb. With a quiet economic calendar and fewer Fed rate cuts now priced in, a near-term ceiling on yields may shift momentum in favour of precious metals. Here's why this setup could signal a bottom for gold and silver prices.

Silver and NZD/USD have plunged to fresh lows as higher U.S. rates and dollar strength dominate. But with a quiet calendar next week, the risk of a near-term short squeeze is rising. Key chart levels are in play, offering traders new opportunities on both sides of the market.

Silver was all the rage a month ago as the metal pushed up to a fresh 12-year high. But it couldn’t break above the 35-level in silver futures and since then it’s been drawdown and pullback. Now the 30-level is back in-play.

Fed rate cut hopes are fading fast, sending US interests rate soaring and shaking up many low or non-yielding assets. With Trump’s re-election and fresh economic data on the way, silver and the Swiss franc are in the firing line. Could this be the end of the road for further rate cuts?

Iron ore, copper and silver, along with the Australian dollar, were among the markets hardest hit by China’s latest stimulus announcement, falling heavily as it became clear the objective of policymakers is to stablise growth, not see it accelerate meaningfully as seen in other state interventions of the past. The “bazooka” many headlines and bullish narratives were based upon ended up being yet another peashooter.

Gold and silver are coiling up beneath the recent highs. While convention suggests breakout risks are on the upside, the threat of a large-scale reduction in Fed rate cut bets looms large, placing emphasis on incoming US payrolls, ISM services data to drive direction.

Silver looks to be a direct play on near-term US interest rate pricing and how that’s feeding into expectations for inflation in the future. With a lengthy list of Federal Reserve speakers coming up later Thursday, including Chair Jerome Powell, could this be the day silver busts to fresh multi-decade highs?

USDJPY, Silver Analysis: After the Fed’s 50-bps rate cut and the BOJ's rate hold, the US Dollar Index (DXY) stabilized above December 2023 lows, supporting a rebound in USDJPY and a continued bullish trend for silver amid rising geopolitical tensions.

USDJPY, Silver Analysis: Following the 50-bps rate cut, precious metals continue to advance within their primary uptrends, and the USDJPY stabilizes above its 140-support.

Gold remains a spitting distance away from reaching its previous record high made just a couple of weeks ago. Silver, on the other hand, has been held back because of fears about China’s economy, undermining prices of other base metals like copper and iron ore, as well as hurting crude oil. Still, our silver analysis suggests that if stock markets were to stabilise, the grey metal could benefit more profoundly from the declining US dollar.

Gold, silver and copper were dragged lower with appetite for risk on Tuesday, although it may be the latter two which show the greater potential for bears going forward.

GBPUSD, Silver Outlook: The persistent rebound of the US Dollar, which has contributed to corrective moves on the GBPUSD and XAGUSD charts, faces scrutiny this week as the Non-Farm Payrolls (NFP) data is expected to shake up the markets and influence the anticipated rate cut magnitude for the Fed's policy this month.

Silver’s been on a nice run recently, benefitting from an easing of concerns towards the trajectory for US economy. But with the move stalling ahead of levels where it's struggled in the past, and with major risk events approaching fast, are we on the cusp of yet another bearish reversal?