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- Silver price rises further to near $52.00 as Fed dovish expectations keep US yields under pressure.
- Fed’s Williams see the need of further monetary policy adjustment.
- White House economic adviser Hassett emerges as frontrunner for next Fed’s chair.
Silver price (XAG/USD) extends its three-day recovery move to near $52.00 during the Asian trading session on Wednesday. The white metal strengthens as yields on interest-bearing assets have remained under pressure due to growing expectations that the Federal Reserve (Fed) could reduce interest rates again this year.
At the time of writing, 10-year United States (US) Treasury yields trade flat around 4.00%, but have come down 3.4% in a week.
Lower yields on interest-bearing assets bode well for non-yielding assets, such as Silver.
According to the CME FedWatch tool, the probability of the Fed to cut interest rates by 25 basis points (bps) to 3.50%-3.75% in the December meeting has increased to 85.3% from 50.1% seen a week ago.
Fed dovish expectations have been prompted by comments from New York President John Williams on Friday, which supported the need of loosening monetary conditions further. “I view monetary policy as being modestly restrictive, although somewhat less so than before our recent actions, adding that there is room for a further adjustment in the near term,” Williams said, CNBC reported.
Meanwhile, headlines from Bloomberg stating that White House Economic Adviser Kevin Hasset has emerged frontrunner replacement for Fed Chair Jerome Powell. The entry of one more US President Donald Trump’s candidate, after Governor Stephen Miran, into the Federal Open Market Committee (FOMC) could increase the odds of a faster monetary expansion cycle, given that Trump has been criticizing the central bank, especially Fed’s Powell, over keeping interest rates higher.
Silver technical analysis
In the daily chart, XAG/USD trades at $51.94. The 20-day exponential moving average rises and price holds above it, reinforcing an upward bias and improving trend quality. RSI at 59.15 stays above the neutral midline, confirming positive momentum without overbought pressure. Initial support aligns with the 20-day EMA at $50.40, suggesting dips could remain contained.
The rising average continues to underpin the move, and sustained closes above it would keep the path of least resistance to the upside. If RSI fades toward 50, momentum would cool and the market could shift into consolidation, with pullbacks expected to stabilize around the moving average.
Looking down, the September 23 high of $44.47 would remain a key support. On the upside, the all-time high of $54.50 might act as key barrier.
(The technical analysis of this story was written with the help of an AI tool)
Silver daily chart
