Silver Price Forecast: XAG/USD holds onto gains around $87, ignoring hawkish Fed bets
XAG/USD trades firmly at around $87 as of writing. On the daily chart, the pair extends its advance well above the 20-day Exponential Moving Average (EMA) at $78.68, suggesting a firm bullish near-term bias as price holds comfortably over dynamic support. The Relative Strength Index (14) hovers near 66, indicating strong but not yet extreme upside momentum that reinforces the broader constructive tone while leaving room for further gains. On the downside, initial support is seen at the 20-day EMA around $78.68, followed by the May 1 high around $77. As long as XAG/USD remains above the EMA floor and momentum readings stay elevated, the technical setup favors dips being bought. Looking up, the Silver price could gain further towards $90 if it manages to break above its intraday high of $87.82; a close above that would open room for further advancement towards the March high of $96.62.