Silver (XAG\/USD) rose 0.69% on Tuesday to $73.22, after rebounding from a daily low of $72.41. Price remains below $75, with $80.00 still out of reach.<\/p>\n
Silver is held down by the 20-day SMA at $75.94, the 50-day SMA at $77.77, and the 100-day SMA at $79.52. These levels sit below the $80.00 area.<\/p>\n
The RSI is still bearish, though it is moving back towards the 50 level. This points to weaker selling pressure even as downtrend conditions persist.<\/p>\n
A close near $72.40 could open the way to further losses. Support levels mentioned are $70.86 and $70.00, with the 200-day SMA at $62.52 also noted.<\/p>\n
Silver prices can be influenced by interest-rate moves, US Dollar strength, geopolitical risk, and recession concerns. Other drivers include demand, mining supply, and recycling.<\/p>\n
Industrial use in electronics and solar can affect prices, and shifts in the US, Chinese, and Indian economies may add volatility. Silver often tracks Gold, and the Gold\/Silver ratio is used to compare relative pricing.<\/p>\n
Looking back at this time in 2025, we remember the bearish sentiment when silver was struggling to stay above $72. The metal was stuck below all its key moving averages, signaling to sellers that they were in control. The main resistance back then was the 20-day SMA near $75.94, a level that seemed distant.<\/p>\n
The situation today, on May 6, 2026, is markedly different. Silver has broken through those old resistance levels and is currently trading around $85.50, driven by persistent inflation fears after last week’s April CPI report came in at 3.9%, higher than the expected 3.7%. This has reignited interest in silver as an inflation hedge, a characteristic that was less of a focus last year.<\/p>\n
Industrial demand also provides a strong tailwind that was absent in 2025. A recent report from the Electric Vehicle Consortium showed a 15% year-over-year increase in silver consumption for battery and component manufacturing. This fundamental demand, particularly from the clean energy sector, creates a solid floor under the price.<\/p>\n
Given this bullish momentum, we are seeing derivative traders position for further upside. Buying call options with strike prices around $90 for July and August 2026 expirations appears to be a popular strategy to capture a potential move towards the $100 psychological barrier. This is a significant shift from the defensive posture we held last year.<\/p>\n
However, we must remain aware of the risks from potential US Dollar strength. To manage this, traders are also buying protective puts with a strike near the $82 support level. This provides a hedge in case of a sudden market shift or a more aggressive stance from the Federal Reserve in their next meeting.<\/p>\n","protected":false},"excerpt":{"rendered":"
Silver rises 0.69% to $73.22 but stays under $75; bearish RSI, key supports near $70.<\/p>\n","protected":false},"author":103,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[59],"tags":[],"class_list":["post-49542","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/49542","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/users\/103"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/comments?post=49542"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/49542\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media?parent=49542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/categories?post=49542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/tags?post=49542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}