09 Aug 2025
Silver Price Forecast: XAG/USD rallies sharply, posts weekly gains of 3.5%
XAG/USD up 0.24% on Friday, on track to end week over 3.5% higher.
Price surged more than 6% since July 31 low at 50-day SMA of $36.20.
Bullish harami pattern confirmed after breaching July 31 high of $37.26.
Silver Price advances for the fourth time in the week, poised to end above $38.00 a troy ounce and close to weekly highs of $38.50 as traders prepare for the weekend. Broad US Dollar weakness across the board and increasing bets that the Federal Reserve might reduce rates at the September meeting, supported the grey metal advance.
XAG/USD trades with daily gains of 0.24%, set to end the week up by more than 3.50%.
