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 Amid Middle East Tensions and Rate Hike Expectations AUGMONT BULLION REPORT
Middle East war uncertainty and unresolved Fed direction collectively support a structurally higher gold price outlook
Safe-Haven Dynamics – Gold held near $4,550, at one-month lows, as rising energy costs fueled inflation concerns and reinforced expectations of further central bank tightening. The World Gold Council’s latest Gold Demand Trends report notes that Middle East war uncertainty and unresolved Fed direction collectively support a structurally higher gold price outlook.
- Geopolitical Developments – The US maintained its naval blockade on Iran, with President Trump conditioning its removal on a nuclear agreement. Tehran characterized the move as economic coercion aimed at exploiting internal divisions. The conflict drove Brent crude to a one-month high on supply disruption fears, while US Treasury yields edged upward in response.
- Macro-economic Signals – Prolonged Middle East hostilities and near-closure of the Strait of Hormuz rattled global markets. Traders unwound rate-cut expectations for 2026 and began pricing in a potential hike by 2027. The Fed held policy unchanged as anticipated, though four dissenting officials highlighted deepening internal divisions over the path forward amid Iran-linked uncertainty.
Technical Triggers
- Gold has met its $4,550 (~ Rs. 1,48,000) targets; next downside support sits at $4,450 (~ Rs. 1,45,000).
- Silver broke below the $73 (~ Rs. 2,40,000) support level; a sustained breach targets $70 (~ Rs. 2,30,000), then $68 (~ Rs. 2,25,000)
Support and Resistance
| International Gold Support Level International Gold Resistance Level Domestic Gold Support Level Domestic Gold Resistance Level | : $4450/oz : $4700/oz : Rs 145,000/10 gm : Rs 155,000/10 gm |
| International Silver Support Level International Silver Resistance Level Domestic Silver Support Level Domestic Silver Resistance Level | : $68/oz : $77/oz : Rs 225,000/kg : Rs 245,000/kg |
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International News32 minutes agoPrecious Metals Pressured By Geopolitical Tensions and Higher Rates AUGMONT BULLION REPORT
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