Created
: 2025.06.03
- 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 slumps to near $34.00 on some profit-taking
World FX news
Breaking news
Silver Price Forecast: XAG/USD slumps to near $34.00 on some profit-taking
2025.06.03 13:52
2025.06.03 13:52
- Silver price attracts some sellers to near $34.15 in Tuesday's Asian session, down 1.70% on the day.
- US duties on imported steel and aluminum are set to double to 50% starting on Wednesday.
- The US May Nonfarm Payrolls will be closely watched later on Friday.
The Silver price (XAG/USD) faces some selling pressure to around $34.15 after retreating from a nearly seven-month high during the Asian trading hours on Tuesday. The white metal loses ground due to some profit-taking amid easing trade tensions.
A generally positive tone around the equity markets weighs on the safe-haven assets, including the white metal, in the near term. US President Donald Trump planned to double import tariffs on steel and aluminum, starting on Wednesday. On the same day, the Trump administration asked its trade partners to submit their best offers in order to finalize deals before July 8. However, the potential downside for XAG/USD might be limited amid tariff and economic uncertainty.
The Greenback edges lower after data showed US manufacturing contracted for a third month in May. This, in turn, might help limit the USD-denominated commodity price's losses. The US Manufacturing Purchasing Managers Index (PMI) declined to 48.5 in May versus 48.7 prior, the Institute for Supply Management (ISM) revealed on Monday. This figure came in below the market consensus of 49.5.
Traders will closely monitor the release of the US employment report for May later on Friday. This report could offer some hints about the US economy and interest rate path. The US Nonfarm Payrolls (NFP) is expected to show job growth of 130K in May, while the Unemployment Rate is projected to remain steady at 4.2% in the same report period. If the data shows a stronger-than-expected outcome, this could boost the Greenback and undermine the white metal.
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
: 2025.06.03
Related articles
Copper spreads spike again - ING
26 minutes agoSilver Price Forecast: XAG/USD nosedives below $36 on improvement in Sino-US trade relations
2025.06.27 18:47Silver price today: Silver falls, according to FXStreet data
2025.06.27 18:32Silver Price Forecast: XAG/USD falls to near $36.50 despite renewed risk aversion
2025.06.27 14:19India Gold price today: Gold falls, according to FXStreet data
2025.06.27 13:36Gold price declines to fresh two-week low, further below $3,300 ahead of US PCE data
2025.06.27 13:11
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
JPY: Some relief from inflation - Commerzbank
Inflation in the Greater Tokyo Area, a reliable early indicator of price trends throughout Japan, rose less sharply than expected in June. Prices rose by 3.1% year-on-year, compared with a rise of 3.4% during the previous month, Commerzbank's FX analyst Volkmar Baur notes.
New
2025.06.27 20:20WTI Oil consolidates around $65.00 as the Middle East ceasefire holds
Oil prices are trading within a narrow range around $65.00 on Friday, consolidating losses, on track to their largest weekly sell-off in years, following a nearly $12 depreciation after Trump announced a truce in the Israel-Iran war.A fragile ceasefire is holding so far, and investors have shifted t
New
2025.06.27 20:18USD/JPY: Any advance is unlikely to break clearly above 145.55 - UOB Group
US Dollar (USD) could rebound further against Japanese Yen (JPY), but any advance is unlikely to break clearly above 145.55. In the longer run, USD appears to have moved into a range trading phase between 143.50 and 146.50, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
2025.06.27 20:09USD: Still feeling the heat - Commerzbank
Yesterday, the EUR/USD exchange rate could soon reach 1.18 again. The Euro (EUR) promptly took off and climbed to 1.1744 against the US Dollar (USD).
New
2025.06.27 20:05NZD/USD: Likely to edge above 0.6075 - UOB Group
There is room for New Zealand Dollar (NZD) to edge above 0.6075 against US Dollar (USD); the major resistance at 0.6090 still appears to be out of reach.
New
2025.06.27 19:58Copper spreads spike again - ING
Copper spreads spiked again on the LME on Thursday. Cash contracts trading at a premium of above $319/t to three-month futures, but still down from a historic high of $379/t seen on Monday.
New
2025.06.27 19:55AUD/USD: Likely to test 0.6575 - UOB Group
There is a chance for Australian Dollar (AUD) to test 0.6575; the major resistance at 0.6595 is likely out of reach. In the longer run, there is potential for AUD to test 0.6595, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
2025.06.27 19:52Gas prices are selling off - ING
European natural gas prices continue to sell off, with Title Transfer Facility (TTF) falling 3.89% yesterday, ING's commodity experts Ewa Manthey and Warren Patterson note.
New
2025.06.27 19:50USD: Still waiting on the data catalyst - Commerzbank
US data sent very mixed messages yesterday to a market seeking validation of recent dovish Fed speculation. 1Q GDP was revised again, showing an even bigger quarter-on-quarter annualised contraction of -0.5% compared to the previously reported -0.2%.
New
2025.06.27 19:48Focus shifts from the Middle East to tariffs - ING
Oil prices are steady following the de-escalation in the Middle East. The ceasefire between Israel and Iran continues to hold. Meanwhile, nuclear talks between the US and Iran are set to resume next week, according to comments from President Trump.
New
2025.06.27 19:45Disclaimer:
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
