$59.99 support keeps Silver pinned near current levels

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Silver slips 0.92% today to $60.67

Highlights

Attacks on Riyadh airport have added to geopolitical risks, affecting demand for precious metals such as silver.
Silver prices remain under broad selling pressure today despite the increased risk premium from recent events.
Technical indicators show mixed momentum, with silver expected to range between $59.18 and $62.16 over the next few days.

Risk appetite adjusts as geopolitical volatility meets persistent selling

Recent attacks on Riyadh’s airport have contributed to ongoing geopolitical instability, affecting sentiment across precious metals markets, according to FXStreet. Such incidents tend to raise risk premiums for assets like silver as investors weigh safe-haven demand against headline volatility. However, today’s price action has remained under broader selling pressure.

Mixed momentum as oscillators diverge below long-term resistance

On the H4 chart, XAG remains above its MA-20 and MA-50 but sits below the MA-200, formalizing a mixed technical outlook. Immediate support is visible at the Ichimoku Kijun at $59.99. MACD signals ongoing bullish momentum, with Bull/Bear Power showing buyer dominance, while ADX reads neutral and AO offers no clear direction. Meanwhile, both RSI and CCI are in buy territory, but Stochastic RSI is oversold, reflecting divergence among oscillators and some ambiguity in momentum.

Range-bound outlook as volatility shapes near-term trade

In the short term, XAG is expected to trade within a range of $59.18 to $62.16, reflecting typical volatility near current levels. The baseline scenario calls for the price to remain within this sideways corridor over the next 2–3 trading days. A break above $62.16 could favor additional gains, while a move below the $59.99 support might trigger further selling.

Viktoras Karapetjanc, analyst at Traders Union, sees the strong support above key moving averages as a sign of continued optimism for silver. He believes that recent geopolitical events are fueling safe-haven demand, even as short-term price action remains mixed. Macro and sentiment factors are working in silver’s favor, but headline-driven volatility cannot be ignored. Tactical focus is on the $59.99 support, with momentum indicators still constructive. "I expect silver to hold its range and see higher levels if positive sentiment persists," says Karapetjanc.

Previously it was reported that both gold and silver in Pakistan saw price increases driven by gains in international bullion markets, highlighting the close connection between local and global precious metals trends. The current technical setup for silver adds a layer of nuance, with traders advised to monitor the $59.99 support for potential downside developments in light of ongoing geopolitical risk.

Source of Data: XAG Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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