Silver Slides Below $60 as Bearish Momentum Targets $55 Support

Silver (XAG/USD) advanced nearly 2% on Friday, yet the metal is on track to close the week down roughly 10%, having pierced the $60.00 level for the first time since the rally initiated in early December 2025. At the time of writing, XAG/USD changes hands near $59.00 after touching a low of $55.70.

XAG/USD Price Forecast: Technical Outlook

The white metal has undergone a sharp reversal, shedding almost 22% in June alone. Following a record peak of $121.66 per troy ounce in January, silver has lost its shine amid a confluence of headwinds.

A “higher-for-longer” interest rate environment, with major central banks poised to maintain or raise borrowing costs, continues to weigh on non-yielding assets. Despite the intraday bounce, the broader bias for XAG remains tilted to the downside.

The Relative Strength Index (RSI) confirms sellers remain in control, even though the oscillator has recovered above 30 after a brief oversold stint.

Given the technical backdrop, the path of least resistance points lower. Initial support rests at the June 24 swing low of $55.63. A decisive break below that level exposes the November 13, 2025, cycle high-turned-support at $54.39, ahead of the psychological $50.00 mark.

Conversely, for a bullish recovery to gain traction, buyers must reclaim the $60.00 threshold, followed by the 200-day Simple Moving Average (SMA) at $69.56.

XAG/USD Price Chart – Daily

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