Silver Surges Past $33—Here’s Why Traders Are Suddenly Paying Attention
Silver just ripped from $32 to test $33.08 in a single session—its highest level since the 2023 squeeze. The move comes as gold flirts with record highs, dragging the entire precious metals complex along for the ride.
Behind the spike: A perfect storm of dollar weakness, ETF inflows, and that old market favorite—FOMO. Physical demand from solar panel manufacturers isn’t hurting either.
Watch these key levels next: A close above $33.50 could trigger algorithmic buying, while failure here might see profit-taking from the paper-hands crowd. Just don’t expect Wall Street analysts to care until it affects their quarterly bonuses.
Fed Decision Looms as Dollar Gains
The bigger picture however could complicate silver’s upside. As the dollar strengthens ahead of the Fed decision on Wednesday, silver’s price in dollars could face resistance. A stronger dollar makes metals more expensive for foreign buyers and often limits demand.
The Fed is expected to keep rates steady but traders are more interested in Powell’s tone. Trump is calling for rate cuts and inflation and trade uncertainty is weighing on global outlooks.
Adding another layer of complexity is the US-China trade narrative. While Bessent hinted at progress, Trump ruled out a meeting with Xi this week. That leaves room for uncertainty—a silver friendly short term.
Silver Trade Setup: $33.47 and Beyond
Silver is testing the big resistance at $33.08. Here’s the simple setup:
Silver Price Chart – Source: TradingviewBuy if silver closes above $33.10
$33.47 and then $33.69
Below $32.83
This breakout setup assumes a sustained move above the trend line will attract new buyers and flip the structure from bearish to bullish. But if silver stalls here the resistance zone could remain intact and trigger a pullback.
Takeaways:
Silver rallies from $32 to $33.08 as tariff talk sparks demand
Fed/Powell to move dollar
$33.08 trendline
MACD but manage risk
