Location & Language

Zenfinex Global Limited regulated by the Financial Services Authority (FSA) of Seychelles (SD092)

The Upward Trend of Silver Prices and Upcoming Challenges

Silver continues its upward trend, having recorded $33.81 today and currently trading near $33.60. The biggest challenge lies in reaching the $34.24 level, the highest recorded on March 18, 2025, and then targeting $34.87, the highest level recorded last year on October 22, 2024, and breaking through it.

Notably, silver prices have risen by approximately 17% since the beginning of the year, outperforming gold, which has increased by around 15% during the same period. Forecasts suggest that both metals will continue their upward trend.

Factors Supporting Silver’s Rise:

Several factors are currently driving silver prices higher, including:
• The rise in gold prices, which reached a record high of $3,057 on March 20, 2025.
• The Federal Reserve’s dot plot projections indicating two interest rate cuts this year, which support silver as a non-yielding asset.
• Industrial demand for silver, as it is widely used in various industries such as pharmaceuticals, medical supplies, and electronics.

Technical Analysis of Silver Prices:

The prevailing trend for silver prices appears to be bullish in the coming period, based on the following technical indicators:
• The alignment of the 20-day, 50-day, and 200-day moving averages in an upward direction, with the 20-day moving average surpassing the 50-day, and the 50-day exceeding the 200-day.
• The Relative Strength Index (RSI) indicates positive momentum, currently at 59 points.
• A convergence between the MACD (blue line) and the signal line (orange line), where any bullish crossover between them would further reinforce silver’s upward trend.

Please note that this analysis is provided for informational purposes only and should not be considered as investment advice. All trading involves risk.

Back

Popular Posts

Will Oil Break Resistance? Markets Await the Next Move

Gold Prices Maintain Bullish Momentum Backed by Geopolitical and Technical Factors

Overview of Last Week’s Key Economic Events

Economic Data Drives NZD Higher Despite RBNZ Rate Cut

Lorem Ipsum

Lorem ipsum dolor sit amet, consectetur adipiscing elit.

Here are some related articles you may find interesting:

Market Insights​

June 4, 2025

Will Oil Break Resistance? Markets Await the Next Move

Crude oil prices have been trading in a sideways range between $62 and $66.75 over the past month, currently hovering around the $65 mark. There...

Market Insights​

June 3, 2025

Gold Prices Maintain Bullish Momentum Backed by Geopolitical and Technical...

Gold prices continue to rise for the fifth consecutive month. On April 22, gold hit a record high of $3,500 before pulling back to $3,121...

Market Insights​

June 2, 2025

Overview of Last Week’s Key Economic Events

Last week witnessed the release of several major global economic indicators. In the United States, data showed a slowdown in some metrics, with the Core...

Market Insights​

May 29, 2025

Economic Data Drives NZD Higher Despite RBNZ Rate Cut

The Reserve Bank of New Zealand (RBNZ) cut interest rates by 25 basis points in its meeting yesterday, lowering the official cash rate from 3.50%...

Ready to Elevate Your Trading Journey?

Open a Taurex account and start trading today.

We’re Sorry

Access to tradetaurex.com
is unavailable in your region

tradetaurex.com is required to abide by global laws and therefore the information on this site is not directed at residents of the United States, Canada, North Korea, Iran, Myanmar, Belgium, Spain, France, Japan, South Korea or any particular countries and is not intended for distribution to, or use by, any person in an country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Live account Registration

1 Hour Trading Consultation

Chat on WhatsApp
This site is registered on wpml.org as a development site. Switch to a production site key to remove this banner.