Silver Price Outlook: XAG/USD surge stalls after US rejects tariffs on key minerals
Silver Price Update: XAG/USD Drops Sharply in Asian Markets
The value of silver (XAG/USD) slid by more than 2%, trading close to $90.40（UTC+8） during Friday’s Asian session. After reaching a record high near $93.90（UTC+8） on Wednesday, the precious metal is now struggling to maintain its upward momentum.
This recent decline follows the United States’ decision to postpone tariffs on the import of key minerals. According to Reuters, on Thursday, President Donald Trump instructed Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick to begin discussions with international partners. The goal is to adjust critical mineral imports in a way that avoids jeopardizing the nation’s economic security.
This move highlights the US’s current inability to fully meet its own demand for essential minerals, which play a vital role in numerous industries.
Previously, silver prices surged as investors anticipated possible tariffs on imports, prompting significant buying activity.
From a technical perspective, the long-term outlook for silver remains positive, as its importance to the US economy is underscored by these developments.
Furthermore, strong expectations that the Federal Reserve will keep interest rates unchanged at its upcoming policy meeting have also contributed to downward pressure on silver. Typically, when the Fed pauses its monetary easing, non-yielding assets like silver tend to face headwinds.
Technical Outlook for Silver
At the time of writing, XAG/USD is trading at $90.63（UTC+8）. The 50-hour Exponential Moving Average (EMA) has climbed to $90.06（UTC+8）, providing support for the short-term upward trend as the price remains above this level. The rising slope of the 50-hour EMA signals strengthening trend-following support.
Meanwhile, the 14-hour Relative Strength Index (RSI) has shifted from the bullish 60.00–80.00 range down to the 40.00–60.00 zone, indicating that upward momentum has stalled for now.
- The record high of $93.90（UTC+8） stands as a significant resistance level for silver.
- If the price drops below the January 15 low of $86.19, it could decline further toward the January 13 low at $83.62.
(This technical analysis was prepared with the assistance of an AI tool.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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