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Silver Holds Steady Ahead of Fed Decision, Traders Watch Key Levels

Silver is trading just below the $70 mark on Wednesday, with traders taking a cautious approach ahead of the Federal Reserve's policy announcement. The market expects interest rates to remain unchanged, but the real focus will be on the Fed's updated projections and any clues about future policy moves.

Recent developments in the Middle East have helped support precious metals. The framework agreement between the US and Iran has eased concerns about energy supply disruptions and reduced pressure on inflation expectations. At the same time, the weaker US Dollar has made silver more attractive to investors.

Even so, traders are reluctant to make large bets before hearing from Fed Chair Kevin Warsh. If the Fed signals that inflation remains a concern and rates could stay elevated for longer, silver may struggle to extend its gains. A more balanced or dovish tone, however, could provide fresh support for the metal.

XAG/USDT 4H Chart Analysis

Silver has recovered well after finding strong buying interest in the 61–64 region. The rebound has brought price back toward a key resistance zone, showing that buyers are gradually regaining momentum.

The area between 70.9 and 71.9 remains the main level to watch. A successful breakout could attract additional buying and push silver toward 73.1. Beyond that, the next major target sits in the 77.1–78.9 zone.

If the rally stalls, initial support is seen around 69.1. A break below that level could lead to a deeper correction toward 65.2 and 64.5. The broader bullish structure remains intact while price stays above the long-term support near 61.3.

Resistance Levels: 70.9 • 71.9 • 73.1 • 77.1–78.9

Support Levels: 69.1 • 65.2 • 64.5 • 61.3

Market View: Buyers are slowly rebuilding momentum. Holding above 69.1 keeps the recovery on track, while a break above 71.9 could open the door for a stronger move higher.

$XAGUSD ‌