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Silver prices (XAG/USD) showed a modest rebound during the Asian session on Friday, reclaiming the $85.00 level in the final hour of trading. This halted a two-day losing streak but failed to reverse the broader bearish trend, as the metal remains near flat for the week. Technical indicators suggest lingering downward pressure, with key support levels below $84.50 under scrutiny. Traders are monitoring whether the $85.00 retest can hold or if further declines will accelerate. The move impacts commodity traders and precious metals investors, particularly as silver often mirrors gold’s volatility while offering higher leverage. A breakdown below $84.50 could trigger a cascade of stop-loss orders, intensifying short-term selling. Conversely, a sustained close above $85.50 might attract buyers, though structural demand concerns in industrial sectors remain unresolved. For Gulf investors, the dollar-pegged silver price is sensitive to USD strength and global risk appetite. With the Fed’s rate trajectory uncertain, regional traders should watch USD/SGD and OPEC+ policy updates. Key resistance is at $86.20, with a decisive break needed to shift sentiment. Short-term volatility is expected ahead of the US non-farm payrolls data next week.
