Silver price hits highest level since 2012 after breakout from 3-day sideways zone
Silver surges to 13-year high at $37.15 after breaking consolidation range
Silver price action on Tuesday, June 17 has decisively broken out of its recent consolidation and has surged higher above the previous week's high to a new 13-year high at $37.15.
Earlier in the week, the metal had paused after breaking a short-term bearish trendline, holding within that tight range for three days. But today’s European session saw a sharp surge backed by growing volume, lifting Silver above the $36.6 resistance level.
Highlights
-Silver price breaks out to 13-year high at $37.15
-Price rally backed by volume surge led to consolidation breakout
-Traders now await U.S. Core Retail Sales data to assess the sustainability of gains
The breakout has pushed Silver price above the previous week’s high at $36.88. As of the European session, Silver is up 2.3%% for the day, reflecting strong buying momentum. The move has now reclaimed the $37 psychological level, a level that was last reached in 2012.
Silver price dynamics (Sept 2024 - June 2025). Source: TradingView
Volume expansion during today’s early rally suggested a renewed interest in Silver despite the period of range-bound trading. The technical breakout that followed also aligns with the broader bullish structure in place since May.
Silver bullish structure holds ahead of U.S. economic data release
Focus now shifts to the upcoming United States Core Retail Sales data. The report has yet to be released, and its outcome could determine whether Silver sustains its upside momentum or pauses near resistance. The forecast stands at 0.2% compared to the prior 0.1%. A stronger-than-expected reading could lift the U.S. dollar, slowing Silver’s upward move and possibly triggering some profit-taking.
If the data disappoints or prints below expectations, the dollar could weaken further, allowing Silver to extend gains to above $35.3, the high in 2012. In that case, a new 14-year high would be reached.
For now, Silver price is in full force of bullish momentum. The breakout from consolidation, alongside rising volume, and proximity to key resistance levels makes today’s price action critical for confirming whether the bullish trend will stretch further or stall just below the next milestone.
Silver consolidated between $36 and $36.64 after cooling from its 13-year-high. Buyers found support at key EMAs while watching Fed signals and Middle East tensions.
