International News
Silver price could aim for the upper boundary of the ascending channel near $33.50
Silver price could aim for the upper boundary of the ascending channel near $33.50.The 14-day RSI holding at the 50 mark reinforces the ongoing bullish bias. Immediate support is seen at the 50-day EMA around $32.21.
Silver (XAG/USD) remains a critical commodity in global markets, influenced by both macroeconomic factors and technical patterns. As of April 15, 2025, silver prices are trading at approximately $32.30 per troy ounce, maintaining strength for the fifth consecutive session. This report provides an in-depth analysis of silver’s price trends, focusing on its ascending channel pattern and key technical indicators.
Silver is currently trading around $32.30, supported by its position above both the nine-day and 50-day EMAs. This indicates robust short-term momentum in favor of a bullish trend.
- Immediate Support: The 50-day EMA at $32.21 serves as a crucial support level. A breach below this point could weaken short-term momentum15.
- Secondary Support: The nine-day EMA near $31.90 offers additional support2.
- Major Support: A significant downside risk lies at $31.50, followed by the seven-month low at $28.00 recorded on April 7
- Immediate Resistance: The upper boundary of the ascending channel near $33.50 represents the next upside target.
- Extended Resistance: A break above $33.50 could pave the way for testing the six-month high of $34.59 last seen on March 28, with further potential to reach $35—a psychological level last observed in 2012
The 14-day RSI is holding steady at the 50 mark, reinforcing bullish bias without entering overbought territory. This suggests that silver’s upward trajectory remains sustainable in the near term.
If XAG/USD decisively breaks above $33.50, it could target $34.59 and potentially extend gains toward $35—a level not seen since 2012. Such a rally would likely attract momentum traders and reinforce bullish sentiment. Failure to hold above immediate support at $32.21 may result in a pullback toward $31.90 or even deeper declines to $31.50 or $28.00, depending on broader market conditions
International News
Gold, Silver Slide as Inflation and Fed Outlook Dominate Geopolitical Risks AUGMONT BULLION REPORT
- Safe Heaven Dynamics – Gold and silver remain under pressure, slipping to $4800 and $75 respectively, as stronger US producer inflation and a firm dollar outweigh safe-haven demand from Middle East tensions. Elevated real yields continue to cap upside, keeping sentiment weak despite geopolitical risks.
- Geopolitical Developments – Escalation intensified after Iran struck a Qatari site hosting the world’s largest LNG facility, following attacks on its South Pars gas field. This marks a significant widening of the conflict, raising energy security concerns and inflation risks, while increasing uncertainty across global markets.
- Monetary Policy stance – The Federal Reserve held rates steady, highlighting inflation risks from the conflict and signaling a cautious stance. While one rate cut is projected this year, policy easing will depend on clear signs of inflation cooling, keeping metals sensitive to macro data.
Technical Triggers
- Gold has reached its $4850 (~ Rs.152,000) support and may consolidate near current levels.
- Silver is testing key support at $75 (~ Rs.250,000); a breakdown could extend declines toward $72–70 (~ Rs.235,000–Rs.230,000).).
Support and Resistance
| Metal | Market | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $4800/oz | $5250/oz |
| Gold | Domestic | ₹150,000/10 gm | ₹165,000/10 gm |
| Silver | International | $72/oz | $85/oz |
| Silver | Domestic | ₹235,000/kg | ₹268,000/kg |
Source:AUGMONT BULLION REPORT
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