Silver prices (XAG/USD) come under renewed selling pressure during the Asian session on Tuesday, retracing part of the previous day’s rebound from record highs. The white metal extends its pullback in the last hour, sliding below the mid-$62.00 area and shedding more than 2.5% on the day.
The latest decline has pushed XAG/USD decisively below the 100-hour Simple Moving Average, a key near-term support level, increasing the risk of a deeper corrective move. Momentum indicators on the one-hour chart continue to gain negative traction, suggesting that additional follow-through selling could reinforce the bearish bias in the near term.
If downside momentum persists, Silver could drift toward the $62.00 psychological level before extending losses to the next support near $61.45. A continuation of the sell-off may expose last Friday’s swing low around the $60.80 region, with a deeper pullback potentially bringing the $60.00 round figure into focus.
On the upside, bullish traders are likely to wait for a sustained move back above the $64.00 handle before re-entering the market. Such a recovery could open the door for a retest of the all-time high near $64.65, followed by a push toward the $65.00 psychological level. A clear break above this area would likely signal renewed upside momentum and set the stage for further gains.
