Silver Price Holds Firm Near $33.50 as Bullish Momentum Stays Alive
Silver is holding steady around $33.50, showing signs that buyers are still in control. The price remains above key technical levels, like the 100-day EMA, and indicators such as the RSI suggest that momentum is still on the upside.
Recent strength in gold prices is also helping silver stay attractive to investors. As gold continues to rise, traders keep a close eye on silver as a solid alternative. Adding to the interest, Russia’s central bank recently announced plans to include silver in its reserves, which could support demand in the coming days.
Technically, silver is facing resistance near the $33.00–$33.05 zone. If it breaks above this range, the price could move toward $34.00 and beyond. On the downside, support is seen around $31.15. A drop below this level might lead to further decline, possibly toward $29.50.
Impact: If silver stays above $33.50, more people might start buying. But if the price falls below support, it could go down more. Traders might stay cautious for now.