Last Updated on July 14, 2026 by Deon
Silver prices went up a bit on Tuesday. This happened after silver prices went down for two days in a row. Even though silver prices are still above $58.00, which’s a very important level the overall picture is still not good for silver. This is because traders are being careful before they get the inflation data from the United States.
Now the price of silver is around $58.10 per ounce. It is going up a bit but it is not going up very strongly. Traders are watching what is happening in the economy to see what will happen to silver next.
Silver Prices Are Stable For Now Above $58
Silver prices did not go down much after some people sold their silver. This is because some buyers came in and stopped the prices from going even more. However the prices are not going up much either.
The problem is that the United States dollar is very strong and the interest rates on treasury bonds are very high. Also people are not sure what the Federal Reserve will do next. All these things are making it so that people do not want to buy silver much.
The Technical Outlook Is Still Not Good For Silver
If you look at the charts you can see that silver prices are still going down. This means that sellers are still in control of the market.
Long as silver prices keep going down like this it is likely that sellers will keep selling. The little bit of increase we saw recently is probably a temporary thing and not a sign that the trend is changing.
Another sign that things are not good for silver is the Relative Strength Index. This is a measure of how strong the trend’s. Now it is below 50, which means that the downward trend is still strong.
Important Levels To Watch For Silver Prices
If silver prices start going down traders will be watching these levels:
* $58.00: This is the level that silver prices need to stay
* $55.63: This is the lowest price silver has been in seven months. If it goes below this level it could go down more.
Levels That Silver Prices Need To Overcome
For prices to go up they need to get past these levels:
* $59.37: This is the level of the 9-day Exponential Moving Average. If silver prices can stay above this level it could mean that buyers are getting more confident.
* The descending channel: If silver prices can get out of this channel it could mean that the downward trend is ending.
The U.S. CPI Data Will Be Important For Silver Prices
The next thing that will affect silver prices is the U.S. Consumer Price Index report. This report will show how inflation there is in the United States.
If inflation is not as high as people thought it could mean that the Federal Reserve will not raise interest rates much. This could make the dollar weaker and silver prices stronger.. If inflation is higher than people thought it could mean that the Federal Reserve will raise interest rates more. This could make the dollar stronger and silver prices weaker.
What Traders Are Thinking
Even though silver prices have gone up a bit traders are still being careful. They do not want to buy much silver until they see stronger signs that the trend is changing.
For now silver prices will probably be affected by what’s happening in the economy and by U.S. Economic data.
Final Thoughts On Silver Prices
Silver prices have stayed above $58.00 for now. The overall picture is still not good. The descending channel, the momentum and the nearby resistance levels all suggest that sellers are still, in control.
Traders should keep watching $58.00 as the support level and $59.37 as the first important resistance level. The U.S. CPI report could be the thing that makes silver prices move significantly either up or down.
