Last Updated on August 21, 2026 by Deon
Silver prices are getting a lot of attention again after the price of silver went above $69.00. This happened during the session on Friday. The price of silver is now at a two-month high. This is because silver had a good week and people who buy silver are feeling more confident. The US Dollar is not doing well. That is helping silver.
According to the news from FXStreet silver prices are going up by around 6.6% this week. The main reason for this is that the US Dollar is weak. When the dollar is weak it makes silver more attractive to people who want to buy it. There are also some changes in the way people think about the US Treasury policy. That is helping silver too.
Why Is Silver Rising?
So why is the price of silver going up? One of the reasons is that the US Dollar is not doing well. Since silver is priced in dollars a weak dollar makes silver more attractive to people who use currencies. The US Treasury also has a plan to buy back long-term bonds. That is affecting how people think about the market. Some people think that this plan might make it easier for people to borrow money even if it means the dollar gets weaker.
All of this is making it a good time for silver and other precious metals.
The technical outlook for silver is positive. The price of silver was around $69.02 and the daily relative strength index was near 65. This means that silver is going up fast but it also means that people might start to get a little cautious. The MACD is still positive, which means that people who buy silver are still in control.
The first big test for silver is the $70.00 level. If silver can stay above this level it might attract buyers. If silver goes above $70 people might start to look at the $71.56 level, which’s where silver was in June. The next big target is around $72.05, which’s where the 200-day Simple Moving Average is. If silver can break through this level it will be really good for silver.
There are some levels to watch for silver. The $67.20 level is really important. If silver starts to go down this level might provide some support. If silver goes below $67.20 people might start to look at the $63.20 level. Then the $61.00 level.
Here are some important price levels for silver:
$72.05: This is a resistance level and the 200-day Simple Moving Average.
$71.56: This is where silver was in June.
$70.00: This is a psychological level.
$69.00: This is where silver is now.
$67.20: This is the important support level.
$63.20: This is a support level.
$61.00: This is a support level
Silver Outlook for Traders
What happens next is a question for people who trade silver. Can silver stay above $70? If it can it will be really good for silver. Might make it go up to $71.56 or $72.05.. People should not think that it will be easy. Silver can be really volatile. It might go down just as fast as it went up.
The US Dollar is still really important. If the dollar keeps getting weaker it will help silver.. If the dollar gets stronger or US yields go up it might hurt silver. People should also watch how much silver is being used in industry. Silver is used in a lot of things like electronics and solar energy so its price is affected by how the global economy is doing.
For now the technical picture for silver is good. Silver has gone up for three days in a row. It is having a really good week. The momentum indicators are also looking good.. The $70 level is a big test. If silver can break through this level it might go up to $71.56 or $72.05.. If it cannot it might go back down to $67.20 or lower.
Overall silver is still looking good long as it stays above $67.20.. People who trade silver should keep a close eye on the US Dollar, bond yields and the price of silver around $70.
