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Silver Price Outlook: XAG/USD surges to all-time high above $89.00 before bullish drive weakens

Silver Price Outlook: XAG/USD surges to all-time high above $89.00 before bullish drive weakens

101 finance101 finance2026/01/13 22:06
By:101 finance

Silver Prices Surge as US Dollar Recovers

On Tuesday, the price of silver (XAG/USD) climbed by 2%, rebounding after hitting a historic peak of 89.11. This movement comes as the US dollar strengthens in response to a softer inflation report from the United States. At the latest update, silver is trading at $86.91, having recovered from earlier lows of $83.45.

Technical Analysis: XAG/USD Outlook

Silver continues to trend upward, with buyers recently driving the metal to a new record near the $90.00 level. The market has seen a consistent pattern of higher highs and higher lows, though the rally now appears to be stretched.

Technical indicators, such as the Relative Strength Index (RSI), are showing divergence from price movements, suggesting that bullish momentum may be waning.

Nevertheless, the overall trend remains positive. Immediate resistance is expected at $87.00, followed by $88.00, and then the all-time high at $89.11.

On the downside, initial support lies at the January 12 high of $86.23, with further support at $85.50. If prices fall below this level, the $80.00 per troy ounce threshold could come into play.

Daily Silver Price Chart

Below is the daily chart for silver, illustrating recent price movements and key technical levels.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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