Silver maintains a steady upward trend, awaiting a breakout from the consolidation range resistance.

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　　During the Asian trading session on Friday,

(XAG/USD) briefly retreated but then attracted renewed buying interest, leading to a rapid rebound in price and a return to trading near the $80

　　Recently, the precious metals market as a whole has been supported by the pullback in the US dollar, expectations of Fed rate cuts, and global safe-haven demand. Compared to gold, silver possesses both safe-haven and industrial demand attributes. During periods of improved market risk appetite, silver generally exhibits higher volatility and thus has seen clearly expanded gains recently.

　　

　　From a macro perspective, the market remains highly focused on US non-farm payroll data and the Fed's future interest rate policy path. If US economic data slows further, expectations for a Fed rate cut may continue to heat up, thereby weakening the US dollar and supporting precious metal prices.

　　At the same time, although there has been a temporary easing in the Middle East situation, global geopolitical risks have not been fully resolved. Market analysis suggests that as long as international uncertainties persist, demand for safe-haven precious metals will remain resilient.

　　In addition, improved expectations for industrial demand have also been a key driver behind silver’s recent strength. With continued growth in global new energy, photovoltaic, and electronics manufacturing industries, the market remains relatively optimistic about the outlook for silver’s industrial consumption.

　　

　　From the daily chart, XAG/USD has maintained a clear uptrend recently. Previously, silver broke through the 50% Fibonacci retracement level of the March decline and regained its footing above the 100-period moving average, indicating that the medium-term market trend has strengthened again.

　　In terms of technical indicators, the daily MACD remains above the zero axis, with the bullish histogram continuing to expand—suggesting strong bullish momentum. Meanwhile, the RSI indicator is hovering near 68; while this is close to overbought territory, there are still no clear signals of a top divergence, meaning silver retains further upside in the short term.

　　

In this scenario, the next target for silver could be near the 78.6% Fibonacci retracement at $88.83, or even a retest of the previous stage high of $96.44. However, considering the RSI is already near overbought levels, there is also a short-term need for technical correction. If the

　　Editor’s Summary

　　The silver market has now entered a technically strong phase. After regaining the $80 mark, bullish sentiment has clearly intensified, while the pullback in the dollar, expectations for Fed rate cuts, and improving industrial demand continue to provide medium- and long-term support for silver. Technically, both daily and 4-hour trends remain clearly bullish, but the key $83 Fibonacci resistance may determine the next directional move. Should the market break through this level, upside could expand further; however, with RSI close to overbought, investors should remain alert to short-term volatility and profit-taking risks at high levels.

Editor: Zhu Henan