Silver remains capped below the $30.00 level as traders await new catalysts. The RSI is in neutral territory, suggesting room for momentum to build if suitable triggers emerge. A decisive move above $30.00 could propel silver toward resistance at $31.45–$31.75. Meanwhile, the gold/silver ratio has crossed above the 88 level again, reflecting relative weakness in silver.
A weekly close above $30.00 would further support gains toward resistance at $30.36–$31.69. Conversely, a sustained decline may lead silver toward the 200-day EMA at $29.06, with additional support levels at $28.70 and $28.33. The short-term Stochastics Oscillator is at 23, and the RSI reads 40.
In the dynamic and evolving bullion markets, staying updated on both technical and fundamental factors is crucial for making sound investment decisions. This report offers a balanced perspective to help investors navigate the complexities of gold and silver trading.