Silver Weekly Forecast – XAG/USD Battles $70 Barrier as Stealth QE Hopes Rise
By: Christopher Lewis
Published: Aug 21, 2026
Market Overview
Silver has shown a strong rally this week, currently priced at $68.9705, reflecting a 2.99% increase. The primary drivers behind this movement are the recent declines in bond yields and a weakening US dollar.
Technical Analysis
The silver market initially experienced a pullback but subsequently rallied towards the significant $70 level. This price point is not only a psychological barrier but also a historical support level. The upcoming trading sessions will be crucial to determine if silver can maintain its upward momentum or if it will face resistance at this key level.
Macro Drivers
Silver's price dynamics are closely tied to the performance of the US dollar and interest rates. Typically, there is an inverse correlation between the dollar and silver prices. As interest rates fluctuate, they impact investor sentiment towards safe-haven assets like silver and gold. Recent trends suggest a resurgence in the safety trade, which could further influence silver's trajectory.
Outlook
While the current outlook appears bullish for silver, the $70 mark will be a critical point to watch. Traders and analysts will be looking for confirmation of either a bullish breakout or a bearish reversal as the market approaches this level. The interplay between silver and gold prices will also be significant, as both metals often influence each other.