XAG/USD corrects from all-time highs to near $62, outlook remains firm
The post XAG/USD corrects from all-time highs to near $62, outlook remains firm appeared on BitcoinEthereumNews.com.
Silver Price (XAG/USD) retraces to near $62.00 during the Asian trading session on Thursday after posting a fresh all-time high at $62.87 earlier in the day. The white metal’s rally hits a temporary roadblock, while its outlook remain firm as the Federal Reserve (Fed) keeps the door open for further monetary easing after reducing interest rates by 25 basis points (bps) to 3.50%-3.75% on Wednesday. In the policy meeting, the Fed stated that extent and timing of additional adjustments to the target range for Federal funds rates will be dependent on incoming data. On the contrary, market participants anticipated that the Fed might announce it is done with reducing interest rates as inflationary pressures have remained well above the 2% target. However, Fed Chairman Jerome Powell said in his press conference that the bar for further interest rate cuts is very high. The Fed’s dot plot showed that policymakers collectively see the Federal Fund Rate heading to 3.4% by the end of 2026, suggesting that there will be one interest rate cut next year. Lower interest rates by the Fed bode well for non-yielding assets, such as Silver. Meanwhile, the US Dollar (USD) strives to regain ground after sliding vertically, following the Fed’s monetary policy announcement. During the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, ticks up to near 98.70 after refreshing seven-week low at open around 98.50. Silver technical analysis Silver price trades higher at $62.00 during Thursday’s Asian trading hours. The 20-day Exponential Moving Average (EMA) climbs to $56.24, underscoring a firm uptrend with price comfortably above trend support. The 20-day EMA has steepened in recent sessions, reinforcing bullish control. The 14-day Relative Strength Index (RSI) at 76.52 is elevated, signaling strong momentum near overbought territory. The bias stays…
Filed under: News - @ December 11, 2025 4:29 am