Weakening Momentum Hits Silver Price as it Holds Above Key Levels

The price of Silver continues to hold its gains, but momentum is weakening. The XAG/USD pair maintains a positive technical bias following its recent recovery from near $55. However, short-term momentum is losing steam.

Despite this, the metal remains above the 50-period Simple Moving Average (SMA) at around $63.60 and the longer-term 100- and 200-period SMAs clustered between roughly $60.80 and $59.90.

The Relative Strength Index (14) is around 55, suggesting moderately positive but not overextended momentum. The Moving Average Convergence Divergence (MACD) remains below zero with a negative line, indicating that upside pressure is firm but losing some steam after the latest rally.