Silver Price Forecast: XAG/USD crashes toward $33.00, suffers worst daily loss since February

• Silver plunges 1.6% as US Dollar and yields surge late Friday.
• XAG/USD hits weekly low of $32.66, pressured by a resurgent Greenback and elevated US Treasury yields.
• Sellers fail to breach $32.50 support, keeping downside capped for now, with key support at $31.91 (50-day SMA).

A rebound above $33.10 could trigger a late recovery toward $33.50, but bearish momentum remains dominant.

Silver prices plunged late in the North American session, hitting a weekly low beneath $33.00, sustaining its most significant loss since February 25, 2025. At the time of writing, XAG/USD trades at $33.03, down more than 1.6%, blamed on a strong US Dollar (USD) and elevated US yields.

XAG/USD Price Forecast: Technical outlook

Silver price dipped to a fresh weekly low of $32.66 before recovering some ground. XAG/USD is poised to finish the week with losses, though sellers remained unable to clear the $32.50 psychological support level, which could've sponsored a test of the $32.00 figure.

On the downside, the following key support level is the 50-day Simple Moving Average (SMA) at $31.91, followed by the 100-day SMA at $31.19. At the same time, if buyers push the grey metal above the March 20-day low of $33.10, expect a late rally toward the $33.50 mark.

XAG/USD Price Chart - Daily