Silver Price Forecast: Bullish Momentum Builds as Dollar Weakens
By Muhammad Umair | Updated: Aug 23, 2026
Key Points
- A weaker U.S. dollar has helped silver extend its advance for a third consecutive week.
- A break above $72 could open the path toward the key $90 resistance.
- A U.S. Dollar Index break below 96 could provide further support for silver prices.
Market Overview
Silver (XAG) enters the new week with positive momentum after recording its third straight weekly gain. The recent drop in the U.S. dollar, which has fallen to a three-month low, has significantly supported the rally in silver prices. This strong upward movement follows a bottom formation process, indicating bullish conditions for silver.
Technical Analysis
The article discusses the technical structures for the U.S. dollar, silver, and the silver to gold (XAU) ratio to forecast the next moves in silver prices. Analysts suggest that if silver can break above the $72 mark, it may pave the way for a challenge of the key resistance level at $90. Additionally, a decline in the U.S. Dollar Index below 96 could further bolster silver prices, providing a favorable environment for investors.