Silver Price Forecast: Bulls defend $53 while bearish structure remains intact

• Support at $53.03 holds as buyers lift XAG/USD back above $54.
• Bearish momentum shows signs of easing as RSI emerges from oversold territory.
• A fall through $53.00 would bring $50.00 and November’s $48.64 support into focus.

Silver trades around 0.42% lower, despite recovering from a retest of last Friday’s $53.03 low. Buyers defended that level, lifting XAG/USD back above $54.00, although the price remains below its opening level.

XAG/USD Price Forecast: Downtrend Remains Intact

A continued sequence of lower highs and lower lows leaves Silver’s downtrend intact. The Relative Strength Index (RSI) has found a bottom in oversold territory, suggesting that momentum has stabilised. Nevertheless, further losses are anticipated unless XAG/USD recovers above the 20 October daily high of $58.61 and pushes to fresh highs.

Reclaiming the 22 October high of $58.02 is necessary for buyers to establish a bullish reversal in XAG/USD. The 20 October high would then come into view, followed by $60.00. Clearing those key levels would open the way towards the confluence of the 50- and 100-day Simple Moving Averages (SMAs), at $62.09 and $62.87 respectively.

Initial support for Silver lies at $53.00. A move below that level would expose the psychological $50.00 threshold, with the swing low of $48.64 recorded on 21 November 2025 providing the next support.

XAG/USD Daily Price Chart