Silver Near a Record, But Why Does It Look Weak Today?
Silver (XAG/USD) remains strong near its all-time high, but its movement tends to be a "tug-of-war." On the one hand, lower-than-expected US inflation (CPI) has revived expectations of a Fed rate cut, which typically supports precious metals. On the other hand, a firm US dollar and profit-taking after a sharp rally have kept silver's gains at bay. Reuters noted that silver rose about 0.8% to $65.93 and is still headed for a 6% weekly gain, after hitting a record $66.88 earlier this week.
The narrative of investment demand and concerns about supply deficits remains the main "fuel" this year—silver has even risen sharply throughout 2025.
Meanwhile, short-term pressure typically arises when yields and the dollar strengthen; today the DXY is around 98.64 and the US 10-Year yield is around 4.14%, two factors that often hold back precious metals when they strengthen.
Technical analysis (today's key levels)
Technically, the broad trend for silver remains bullish as prices remain near record levels. However, the record-setting area makes the market vulnerable to consolidation (rapid fluctuations) due to profit-taking. For today, the closely watched daily range is around $64.49 – $66.22.
Relevant key levels:
Resistance: $66.20, then $66.88 (record), then the psychological $67.00
Support: $65.50, then $65.00, then $64.50 (lower limit of today's range)
Today's predicted closing area
With conditions "near record" and the dollar relatively firm, the most realistic scenario is a close still in the high area but not far from today's range:
Base case: $65.60 - $66.20
Bullish close: If the dollar weakens/yields fall → $66.20 - $66.90 opportunity
Bearish close: If profit-taking intensifies → $64.90 - $65.60 (retest of the support area)
Next week's predicted movement (bias & range)
Next week (approaching the year-end holidays) liquidity is usually thin, allowing for more volatile movements. Silver's primary bias remains sideways-bullish as long as it remains above $65.00, with the potential for a retest of $66.88. A clear breakout would potentially target the $67-$68 area. Conversely, if the price falls and daily closes consistently below $65.00, the correction could extend to $64.50 and then to $63.80-$64.00 as a balancing zone.
Source: Newsmaker.id
