Jakarta, CNBC Indonesia - Global silver prices remained under\npressure throughout this week. XAG\/USD ended Friday\u2019s (17\/7\/2026)\ntrading at US$55.90 per troy ounce, down US$3.94 or 6.58% compared to\nthe previous week\u2019s close of US$59.84.<\/p>\n
Selling pressure was evident from the start of the week. Silver fell\n3.67% on Monday to US$57.65, then briefly recovered 1.70% to US$58.63 on\nTuesday.<\/p>\n
That recovery was short-lived. The price corrected again by 1.46% to\nUS$57.77 on Wednesday, then plunged 3.92% to US$55.51 on Thursday. In\nFriday\u2019s trading, silver only managed a 0.71% rebound to US$55.90.<\/p>\n
Throughout the week, the highest close was recorded at US$58.63 and\nthe lowest at US$55.51. The trading range reached US$3.12 or about 5.3%,\nindicating that volatility remains high and selling pressure has not\nfully abated.<\/p>\n
Rising geopolitical tensions in the Middle East have not been able to\nlift demand for silver as a safe-haven asset. Markets are instead more\nconcerned about the conflict\u2019s impact on energy supplies and global\ninflation.<\/p>\n
The risk of shipping disruptions in the Strait of Hormuz and the Red\nSea trade route has pushed oil prices back up. This condition could\nincrease transport and production costs, while slowing the process of\ndisinflation.<\/p>\n
Rising inflation could prompt the US central bank to maintain high\ninterest rates for longer. For silver, this scenario tends to be\nnegative because the precious metal does not offer yields like\nbonds.<\/p>\n
US inflation data has actually begun to show softer signals. Headline\ninflation for June fell 0.4% month-on-month, while annual core inflation\neased to 2.6%.<\/p>\n
However, the annual headline inflation rate remains at 3.5% and\npressure from energy prices is still high. This reduces the urgency for\nfurther rate hikes in the near term, but is not yet sufficient to\nconfirm that monetary policy will be loosened soon.<\/p>\n
From a technical perspective, the XAG\/USD price structure continues\nto form a pattern of lower highs and lower lows.<\/p>\n
After closing at US$62.08 on 6 July, silver formed successive lower\npeaks around US$60.01, US$59.99, and most recently US$58.63. At the same\ntime, the price has broken through the US$57.65 area and declined\ntowards US$55.51.<\/p>\n
Bearish pressure is also evident from the moving averages. The\nfive-day average closing price stands at US$57.09, lower than the 10-day\naverage of US$58.57.<\/p>\n
Friday\u2019s closing price of US$55.90 is also below both averages. As\nlong as this condition persists, any price increase is more likely to be\na technical rebound rather than the start of a trend reversal.<\/p>\n
For the trading week of 20-24 July 2026, XAG\/USD is projected to move\nbearish-sideways within a range of US$54.40-US$58.63 per troy ounce.<\/p>\n
The US$55.50 area serves as the nearest support and a directional\ndecision level. As long as the price holds above it, silver still has a\nchance to consolidate and rebound towards US$57.65.<\/p>\n
However, a daily close below US$55.50 would strengthen selling\npressure and open the path towards US$54.40. If that level is also\nbreached, the next downside target lies around US$53.44.<\/p>\n
On the upside, US$57.65 is the first resistance, followed by\nUS$58.63. A trend reversal would only be confirmed if XAG\/USD manages to\nclose above US$58.63, with a further target at US$59.84-US$60.01.<\/p>\n
The bias for silver remains negative as long as the price is below\nUS$57.65. The direction of oil prices, the US dollar, bond yields, and\ndevelopments in the Middle East conflict will be the main determinants\nof XAG\/USD\u2019s movement throughout the coming week.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/silver-prices-cause-panic-in-a-week-heres-the-outlook-ahead-1784433036", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }