Today's Silver Price Forecast

Silver at the Basic Level

The price of silver fell to $76 per ounce on Tuesday, giving up gains from the previous session, as growing uncertainty in the Middle East kept investors cautious about inflation risks.

Meanwhile, President Donald Trump said talks with Tehran are going well, but warned of the possibility of further attacks should negotiations collapse.

Silver prices remain down about 20% since the conflict began, as fears of an inflationary shock driven by rising energy prices have reinforced expectations that central banks may maintain a tight monetary policy for longer.

However, the sharp drop in oil prices over the past week has helped ease concerns about inflationary pressures and further interest rate hikes.

Silver from a Technical Perspective

Silver prices are currently trading within a downward price channel on the hourly chart near the $76 per ounce level, at the lower boundary of this price channel.

Prices are expected to rebound from these levels, reaching $77.50 as an initial target, followed by the upper boundary of this price channel around $79 per ounce.

Under the influence of a positive MACD divergence.

This scenario would fail if the $73 low is broken.