$XAG | SILVER MARKET UPDATE

Silver is entering an important phase as traders focus on the Federal Reserve’s upcoming decision and the direction of the US dollar.

XAG/USD is currently trading around the $63–64 area after a sharp pullback from recent highs. On September 14, silver declined roughly 1.6%, while the latest session has shown a modest recovery. Despite the recent correction, silver remains significantly higher than it was a year ago.

The biggest short-term pressure is coming from rising US Treasury yields, a stronger dollar and growing expectations of a Federal Reserve rate hike. Recent US inflation data and the sharp rise in oil prices have increased concerns that inflation could remain elevated, making monetary policy more restrictive. This environment is generally negative for non-yielding assets such as silver.

Technically, the $63 area is becoming an important zone to watch. Holding this region could allow silver to stabilize and attempt a recovery toward $65–66, followed by the $68–70 area. However, a sustained break below $63 could increase the risk of another leg lower.

The bigger picture is still interesting. Silver is supported by both investment demand and its industrial role, but the market is currently highly sensitive to Fed policy, the dollar, yields and geopolitical developments.

For now, I would avoid chasing sharp moves and watch how XAG reacts around key support and resistance levels.

Silver remains a high-volatility market where patience and risk management matter more than predictions.

What do you think — can XAG reclaim $70, or is another correction coming first?

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