Silver (XAG/USD) experienced a rebound on Monday after briefly touching its year-to-date low of approximately $61.01 during the Asian trading session, marking its weakest level since December 2025. By the time of reporting, silver had recovered to trade near $68.00, as traders responded to conflicting headlines regarding geopolitical tensions associated with the US-Israel war with Iran [1]. The recovery in silver prices coincided with a pullback in the US Dollar and Treasury yields, following US President Donald Trump's decision to delay planned strikes on Iran's energy infrastructure. Trump announced that strikes on Iranian power plants would be postponed for five days, pending the outcome of ongoing discussions [1].
Despite the rebound, silver's gains remain limited due to Iranian officials downplaying the likelihood of negotiations. Iranian Parliament Speaker Mohammad Bagher Ghalibaf stated that no talks have been held with the United States, and Iran's Foreign Ministry reiterated its unchanged stance on the Strait of Hormuz and conditions to end the war. Tehran has not responded to messages relayed by other countries regarding US requests for talks, according to IRNA [1].
Technical analysis indicates a bearish near-term bias for silver, as the price remains below the 50-day Simple Moving Average (SMA) at $86.20 and the 100-day SMA around $73.80. The 200-day SMA near $57.60 continues to slope higher, suggesting that the broader uptrend is still intact for now. Momentum indicators reinforce the downside outlook: the Relative Strength Index (RSI) is near 34, below the 50 mark, signaling sustained bearish momentum, while the Moving Average Convergence Divergence (MACD) remains below the signal line and in negative territory, indicating sellers continue to dominate in the short term [1].
Immediate resistance for silver is seen at the 100-day SMA near $73.80, followed by the $78.00–$80.00 zone, which previously acted as a key breakdown area. A sustained move above the 50-day SMA at $86.20 would be required to shift the current bearish structure. On the downside, immediate support lies at Monday’s low near $61.01, followed by the 200-day SMA around $57.60. A break below this level could expose deeper losses toward the $50.00 psychological mark [1].
CONCLUSION
Silver's rebound from year-to-date lows was driven by geopolitical developments and a pullback in the US Dollar, but bearish momentum remains dominant. Technical indicators and resistance levels suggest further downside risk unless silver can break above key moving averages. Market participants should monitor ongoing geopolitical negotiations and technical support levels for potential shifts in silver's trend.