Silver prices climbed on Wednesday after the US central bank, the Federal Reserve, held rates unchanged, delivering a “dovish” hold.
Silver prices surge nearly 3%, buoyed by the Federal Reserve's decision to maintain current interest rates. US Dollar Index declines, supporting silver's upward momentum as investors digest the Fed's dovish stance. Technical indicators suggest potential for further gains, with XAG/USD traders targeting the $26.00 resistance level. Downside risks include a retracement towards the $25.00 support, and below.
Once those two levels are taken out, the next supply zone would be the April 18, 2022, high at $26.21, followed by the March 8, 2022, high at $26.94. If sellers move in and drag prices below March 15’s high of $25.43, look for a drop toward $25.00. Once cleared, the next stop would be the December 22 high turned support at $24.60, followed by the $24.00 mark. XAG/USD Price Action – Daily Chart XAG/USD Overview Today last price 25.55 Today Daily Change 0.64 Today Daily Change % 2.
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