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
Precious Metals Under Pressure: Diplomatic Shifts, Geopolitical Risk, and Central Bank Outlook AUGMONT BULLION REPORT
- Safe-Haven Dynamics – Gold is trading below $4650 as investors evaluate ongoing diplomatic efforts to resolve the US–Iran conflict. The crisis has caused a significant energy supply disruption and heightened inflation concerns. Iran has proposed halting its operations in the Strait of Hormuz in exchange for a complete ceasefire and removal of the US blockade on Iranian ports.
- Geopolitical Developments – Tehran has submitted a new proposal to Washington via Pakistani intermediaries, offering to reopen the Strait of Hormuz conditional on the US lifting its blockade, while postponing discussions on its nuclear program. Washington remains skeptical and is likely to respond with counter-proposals in the near term. Iran’s nuclear ambitions remain the central point of disagreement between the two sides.
- Macro-economic Signals – Markets are also focused on upcoming monetary policy decisions by the Fed, ECB, and BOJ this week. Persistent energy price inflation, driven by Middle East tensions, has strengthened expectations that central banks may maintain or further raise interest rates. This monetary tightening outlook is exerting downward pressure on gold prices.
Technical Triggers
- Gold has broken the important support of $4650 (~ Rs 151,000), the next target is $4550 (~ Rs 147,500).
- Silver is on the verge of breaking $73 (~ Rs 235,000). If prices sustain below this level, the next target is $70 (~ Rs 225,000).
Support and Resistance
| International Gold Support Level International Gold Resistance Level Domestic Gold Support Level Domestic Gold Resistance Level | : $4550/oz : $4850/oz : Rs 147,500/10 gm : Rs 155,000/10 gm |
| International Silver Support Level International Silver Resistance Level Domestic Silver Support Level Domestic Silver Resistance Level | : $70/oz : $77/oz : Rs 225,000/kg : Rs 245,000/kg |
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