Silver XAGUSD | 21–25 Sep 2026SILVER (US$/OZ)TVC:SILVERYES_GroupLast Week Recap | 14–18 Sep 2026 Silver traded with high volatility and came under pressure early in the week as the US Dollar and Treasury Yields moved higher, while expectations of a Fed rate hike weighed on precious metals. Silver declined toward the $63–64/oz area before the Fed raised interest rates by 25 bps to 3.75–4.00% as expected. Toward the end of the week, Silver recovered alongside Gold as the US Dollar and Treasury Yields began to ease, while lower oil prices helped reduce inflationary pressures. Spot Silver rebounded toward $66.70/oz and closed the week higher at $66.22/oz. Fundamental Analysis | 21–25 Sep 2026 Bias: Sideway to Bullish This week, Silver will continue to be influenced by the direction of the US Dollar and Treasury Yields following the Fed's rate hike. Markets are still pricing in the possibility of additional rate hikes, which could limit Silver's upside in the short term. However, a slowdown in the Dollar and Treasury Yields would provide support for precious metals. On the US economic data front, markets will focus on Flash Manufacturing/Services PMI, Initial Jobless Claims, and Durable Goods Orders, along with comments from several Fed officials, which could influence interest-rate expectations and the US Dollar. Silver could also receive support from industrial demand if the manufacturing sector continues to expand. Meanwhile, safe-haven demand and lower oil prices could help ease inflationary pressures. However, stronger-than-expected US economic data and increasingly hawkish signals from the Fed could push Treasury Yields and the US Dollar higher, putting renewed pressure on Silver. Overall: Silver could remain Sideway to Bullish if the US Dollar and Treasury Yields continue to weaken. The $66–67/oz area remains an important resistance zone to watch. On the other hand, a renewed strengthening of the Dollar and Treasury Yields could trigger another round of selling pressure in Silver. Technical Analysis — XAGUSD 4H XAGUSD maintains a Sideway to Bullish outlook, with price continuing to trade above the EMA200 and the uptrend line, indicating that the medium-term bullish structure remains intact. In the short term, Silver is recovering from the support zone. If price holds above $65.73, Silver could move higher to test resistance at $67.32 and $68.32. A breakout above $68.32 could open the way for further upside. Conversely, if price breaks below $65.16, Silver could decline toward the uptrend line and the next support level. Bias: Sideway to Bullish Resistance: 67.32 / 68.32 Support: 65.73 / 65.16 Target: 68.32 Cut Loss: Below 65.16