Silver Price Forecast: XAG/USD range-bound as RSI holds near 50 and MACD flattens Silver (XAG/USD) has edged higher on Friday, trading near $84.27, as the US Dollar and Treasury yields eased following softer-than-expected Nonfarm Payrolls (NFP) data. The rebound came after the metal dipped to a daily low near $80.17, but it remains on track for its first weekly decline in three weeks. The price action reflects a balance between supportive factors and lingering bearish momentum. The ongoing US-Iran conflict has contributed to elevated geopolitical risk, bolstering safe-haven demand and limiting deeper losses for Silver. However, rising oil prices driven by supply disruptions through the Strait of Hormuz are fueling inflation concerns, which have dampened expectations for Federal Reserve rate cuts. This dynamic tends to weigh on non-yielding assets like Silver, as lower interest rates typically support its price. From a technical perspective, Silver is consolidating near the 20-day Simple Moving Average (SMA) after retreating from the upper Bollinger Band. On the daily chart, the price is stabilizing around the middle Bollinger Band at $83, which also serves as a key support level. Momentum indicators suggest a lack of strong directional movement, with the Relative Strength Index (RSI) hovering near 50, indicating balanced momentum. The Moving Average Convergence Divergence (MACD) indicator is flattening near the zero line, signaling fading bearish momentum, though the MACD line remains slightly below the signal line. Short-term support appears to lie around the lower Bollinger Band at $72, with the February swing low near $64.08 as a deeper downside risk if the price breaks below the middle Bollinger Band. On the upside, a clear break above the upper Bollinger Band near $93.#oil_prices #us_iran_conflict #us_dollar #treasury_yields #nonfarm_payrolls
