Last Updated on August 24, 2026 by Deon
Silver prices stayed strong around $69.00 per troy ounce on August 24 2026 continuing gains for the straight day. The precious metal is still getting support from an US Dollar and new worries about US debt management after the Treasury shared plans to buy more longer-dated government bonds.
Silver Price Rises as Treasury Increases Bond Buybacks
The latest movement in XAG/USD is happening as the US Treasury expands its bond buyback efforts. Treasury Secretary Scott Bessent said that purchases of longer-term government debt could go over $4 billion, more than doubling the amount.
The action is meant to help manage Treasury market liquidity and deal with long-term borrowing costs. Lower bond yields can help silver because the metal does not pay interest. When yields go down the cost of holding a -earning asset becomes less of a problem.
The Treasury news has also led to an US Dollar. Since silver is priced in dollars around the world a weaker Dollar can make the metal cheaper for buyers using currencies.
Geopolitical Issues Add Support. Also Bring Risk
Geopolitical events are another big factor for silver. The United States is getting ready to impose sanctions on Iran and problems with Iranian oil shipments and ongoing tensions near the Strait of Hormuz are keeping energy markets on edge.
Higher oil prices could make things more complicated for metals. If energy costs go up a lot expectations of inflation might. Could limit the chance for future cuts in Federal Reserve interest rates. That would eventually be a problem for silver.
So traders are dealing with two influences: safe-haven and fiscal issues are helping silver but higher energy prices might make monetary policy less helpful.
XAG/USD Technical View
From a point of view the silver price is looking good after breaking above the $66.65–$66.70 range according to another FXStreet market analysis. Silver recently tested the $70.00 level hitting a two-month high before settling around $69.
The $70.00 level is now a psychological resistance point. A clear move above it could make the bullish outlook stronger. Open the way for higher prices.
On the side the area around $66.65–$66.70 that was just broken through may become an important support zone. A drop below that area could weaken the positive trend and encourage people to take profits.
Silver Price Level Market Significance
$70.00 psychological resistance
$69.00 Current area for trading
$66.65–$66.70 Important technical support
$72.00 Possible area for further gains if the positive trend continues
Technical levels should not be seen as sure targets. Silver can change quickly when the Dollar, Treasury yields or geopolitical news changes.
Fed Policy and Jackson Hole in Focus
Expectations about the Federal Reserve will stay at the center of the silver outlook this week. Investors are watching US economic data and Federal Reserve Chair Kevin Warshs speech at the Jackson Hole meeting for hints about the future of interest rates.
A relaxed policy outlook could help silver by lowering Treasury yields and weakening the US Dollar. On the hand signs that inflation is still high could limit the chance of rate cuts and put pressure on non-earning precious metals.
What Might Move Silver Next?
Many things are likely to affect silver prices in the future:
US Treasury bond-buyback activity
Movements in the US Dollar
Treasury yields
Expectations about Federal Reserve interest rates
US inflation data
Oil prices and risks in energy markets
Events involving Iran and the Strait of Hormuz
Demand for silver in industry
Silver also has a big industrial part. The metal is used a lot in electronics and solar energy which means global manufacturing activity can affect demand along with investment flows.
Silver Price Forecast
The short-term outlook for XAG/USD is cautiously positive while silver stays above its breakout area. A clear move above $70 could bring buying interest while not holding key support could lead to a bigger drop.
For now the mix of a Dollar lower bond yields and concerns about US fiscal policy is keeping silver supported near $69. However traders should keep an eye on energy prices and Federal Reserve expectations because a new rise in inflation could change the interest rate outlook.
Final Thoughts
Silver is still showing movement as investors react to changes in US Treasury policy, Dollar weakness and overall fiscal uncertainty. Being near $69 after reaching a two-month shows that buyers are still active.
The $70 resistance level is likely to be the focus. A breakthrough could strengthen the trend while a move back under the $66.65–$66.70 support area would raise questions about whether the recent rise is losing steam.
This article is, for information only. Is not financial or investment advice. Precious metals can be volatile. Traders should do their own research before making decisions.
