Created
: 2025.05.02
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
Silver Price Forecast: XAG/USD recovers initial losses despite US Dollar showing strength
World FX news
Breaking news
Silver Price Forecast: XAG/USD recovers initial losses despite US Dollar showing strength
New
2025.05.02 00:09
2025.05.02 00:09
2025.05.02 00:09
- Silver price bounces back to near $32.50 despite sheer strength in the US Dollar.
- The USD gains after the release of the US ISM Manufacturing PMI data for April.
- The Washington has expressed confidence that it will lose trade deals with some trading partners in coming weeks.
Silver price (XAG/USD) recovers a majority of its early gains and returns to near $32.50 during North American trading hours on Thursday. The white metal gained ground after posting a fresh over two-week low around $31.66, earlier in the day, even though the US Dollar (USD) has extended its two-day recovery.
US Dollar PRICE Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.37% | 0.25% | 1.54% | 0.23% | 0.21% | 0.35% | 0.72% | |
| EUR | -0.37% | -0.12% | 1.13% | -0.17% | -0.14% | -0.02% | 0.33% | |
| GBP | -0.25% | 0.12% | 1.26% | -0.02% | -0.03% | 0.10% | 0.46% | |
| JPY | -1.54% | -1.13% | -1.26% | -1.30% | -1.29% | -1.22% | -0.87% | |
| CAD | -0.23% | 0.17% | 0.02% | 1.30% | 0.00% | 0.12% | 0.48% | |
| AUD | -0.21% | 0.14% | 0.03% | 1.29% | -0.00% | 0.12% | 0.50% | |
| NZD | -0.35% | 0.02% | -0.10% | 1.22% | -0.12% | -0.12% | 0.36% | |
| CHF | -0.72% | -0.33% | -0.46% | 0.87% | -0.48% | -0.50% | -0.36% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
Technically, higher US Dollar makes the Silver price an expensive bet for investors.
The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, jumps above 100.00. The Greenback strengthens even though the United States (US) ISM Manufacturing PMI data for April has shown that activities declined at a faster pace. The Manufacturing PMI is down at 48.7 from 49.0 in March but higher than estimates of 48.0.
Meanwhile, ISM Manufacturing Prices Paid, which gauges change in input cost, expanded at a faster pace to 69.8 from 69.4, but missed estimates of 70.3. Accelerating input costs are expected to feed consumer inflation. Such a scenario will limit the Federal Reserve (Fed) from reducing interest rates, which bodes poorly for non-yielding assets, such as Silver.
Earlier in the day, the Silver price fell sharply as investors expect that fears of additional tariffs announced by US President Donald Trump have peaked as Washinton is close to announce bilateral trades with number of its trading partners soon.
"Initial trade deals are to be announced in weeks, not months," US Trade Representative Jamieson Greer said at Fox News, Reuters reported.
However, trade uncertainty between the US and China will keep the downside in the Silver price limited.
Silver technical analysis
Silver price struggles to revisit an over three-week high around $33.70. The near-term outlook of the white metal has become uncertain as it falls below the 20-day Exponential Moving Average (EMA), which trades around $32.65.
The 14-day Relative Strength Index (RSI) falls below 50.00 after failing to break above 60.00, indicating that investors are not bullish anymore.
Looking up, the March 28 high of $34.60 will act as key resistance for the metal. On the downside, the April 11 low of $30.90 will be the key support zone.
Silver daily chart
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply - Silver is much more abundant than Gold - and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals - more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers' demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
Last updated
: 2025.05.02
Related articles
Silver Price Forecast: XAG/USD bulls retain intraday control above $33.00 mark
5 minutes agoIndia Gold price today: Gold rises, according to FXStreet data
2025.05.23 13:35Gold price consolidates around $3,300 mark, bullish potential seems intact
2025.05.23 13:02Silver Price Forecast: XAG/USD rises above $33.00, receives support from safe-haven demand
2025.05.23 12:37Gold price slips below $3,300 amid firm US Dollar after Trump budget vote
2025.05.23 01:28Gold retreats as US Dollar rebounds, outlook remains firm on US debt concerns
2025.05.22 20:02
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
Forex Today: US Dollar retreats on fiscal concerns, Pound Sterling rises to multi-year highs
Here is what you need to know on Friday, May 23:
New
2025.05.23 17:02Silver Price Forecast: XAG/USD bulls retain intraday control above $33.00 mark
Silver (XAG/USD) builds on the previous day's bounce from the $32.60 area and gains some follow-through positive traction on Friday. The momentum extends through the early European session and lifts the white metal to a fresh daily peak, around the $33.25-$33.30 region in the last hour.
New
2025.05.23 17:01USD/CHF drops to near 0.8250 as US Dollar retraces gains due to growing debt concerns
USD/CHF retraces its recent gains registered in the previous session, trading around 0.8260 during the European hours on Friday. Meanwhile, the US Dollar Index (DXY), which tracks the US Dollar (USD) against a basket of six major currencies, is trading lower at around 99.60 near two-week lows.
New
2025.05.23 16:45Pound Sterling strengthens against US Dollar on strong UK Retail Sales data
The Pound Sterling (GBP) revisits the three-year high against the US Dollar (USD), which it posted earlier this week around 1.3470, in European trading hours on Friday. The British currency strengthens after the release of stronger-than-projected United Kingdom (UK) Retail Sales data for April.
New
2025.05.23 16:41EUR/GBP remains above 0.8400 following German GDP, UK Retail Sales data
EUR/GBP recovers its recent losses registered in the previous session, trading around 0.8410 during the Asian hours on Friday. The currency cross advances as the Euro (EUR) attracts buying support following Germany's Gross Domestic Product (GDP) data for the first quarter, released by Destatis.
New
2025.05.23 16:03EUR/JPY Price Forecast: Keeps bullish vibe above 162.00, further consolidation cannot be ruled out
The EUR/JPY cross edges lower to near 162.35 during the early European session on Friday. The Japanese Yen (JPY) strengthens against the Euro (EUR) due to rising expectations that the Bank of Japan (BoJ) will continue raising interest rates this year.
New
2025.05.23 15:43Crude oil price today: WTI price neutral at European opening
West Texas Intermediate (WTI) Oil price is neutral on Friday, early in the European session. WTI trades at $60.67 per barrel, not far from its Thursday close at $60.67.Brent Oil Exchange Rate (Brent crude), however, advances from its previous close at $63.60 to trade at $63.63.
New
2025.05.23 15:15US Dollar Index falls toward 99.50 as Trump's One Big Beautiful Act passes first hurdle
The US Dollar Index (DXY), which tracks the US Dollar (USD) against a basket of six major currencies, depreciates toward two-week lows.
New
2025.05.23 15:15UK Retail Sales jump 1.2% MoM in April vs. 0.2% expected
The United Kingdom (UK) Retail Sales jumped 1.2% month-over-month (MoM) in April after advancing 0.1% in March (revised from 0.4%), the latest data published by the Office for National Statistics (ONS) showed Friday. Markets expected a 0.2% rise in the reported month.
New
2025.05.23 15:02GBP/USD rebounds above 1.3450 toward 39-month highs, UK Retail Sales eyed
GBP/USD posts gains of about a quarter of a percent in the Asian hours on Friday, trading around 1.3450 at the time of writing. The pair edges higher as the Pound Sterling (GBP) attracts buyers after the GfK better-than-expected Consumer Confidence Index for the United Kingdom (UK) was released.
New
2025.05.23 14:17Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
