Silver Price Capped Below $68.00 Amid Tighter Monetary Policies

The silver price has been capped below $68.00 in recent trading, limiting its ability to break above this key level.

Market expectations of tighter monetary policies from major central banks and a strong US Dollar are weighing on precious metals like silver.

In the absence of any significant market-moving events, traders are waiting for developments at the UN Summit, where US President Donald Trump is set to meet with Iranian and Chinese leaders.

From a technical perspective, the Relative Strength Index (RSI) in the 4-hour chart shows a lack of clear bias, while the Moving Average Convergence Divergence (MACD) is hovering around the zero line.

A break above $68.00 could expose silver prices to a range between $71.12 and $71.56, while a clear break below $64.60 could activate a large Head & Shoulders pattern and increase bearish pressure.