La Plata goes back from the maximum of several years as the Fed pause and the benefits cool the rebound

• The XAG/USD falls for the second day, moving away from a new maximum of 12 years about $ 37,32.
• Geopolitical tensions and structural supply deficits maintain the medium -term bullish panorama.
• The daily RSI shows bassist divergence; Key support seen in the area of ​​35.30 $ –35.50 $.

La Plata (XAG/USD) goes back slightly for the second consecutive day on Thursday, moving away from a new maximum of several years of $ 37,32 reached on Wednesday, while the operators ensure benefits after the cautious pause in the Federal Reserve policy (FED). The Fed kept the stable rates but pointed out that indebtedness costs could remain raised for longer, giving some respite the US dollar and weighing slightly on precious metals.

At the time of writing, the XAG/USD has dropped approximately 1.10% in the day, since the metal moves away from its highest level since 2012, descending during the American session to quote about 36.35 $.

This cooling is produced after an impressive several weeks -warehouse driven by a mixture of structural supply adjustment, high demand for safe refuge and a US dollar in general. The augmented tensions between Israel and Iran have maintained the geopolitical risks in the radar, which has caused constant flows to the silver along with the gold. The last setback mainly reflects a healthy benefits and a modest rebound in the dollar, while the operators digest the cautious tone of the Fed and recalibly their appetite due to the short -term risk. Despite the fall, the white metal continues to rise considerably in the month and continues to maintain a constructive technical bias.

In the macroeconomic front, La Plata is still supported by a strong industrial demand, especially solar panels and electric vehicles, which has kept the global deficit market for five consecutive years. According to recent reports, 2025 is expected to see a supply deficit of more than 110 million ounces, one of the broadest in a decade, which provides a solid fundamental support for prices in falls.

From a technical perspective, the broader tendency of silver remains bullish, but the short -term impulse shows signs of fatigue. The daily chart highlights a developing divergence between the price action and the relative force index (RSI); While the cash in cash printed a higher maximum, the RSI failed to confirm it, falling below its previous peak. This classical divergence often warns about a weakening of the bullish impulse. Meanwhile, the MACD is still positive but is beginning to lose strength on the rise, reinforcing the RSI caution signal.

The immediate support zone is located near the area of ​​$ 35.30 –35.50 $, which is aligned with the 21 -day exponential mobile average (EMA) and the recent rupture level. The sustained weakness below this region could trigger a deeper setback towards horizontal support around 34,50 $, an area that limited multiple maximums during the past year and has now become a key floor.

On the other hand, if buyers manage to exceed $ 36.50, bulls could try to test the area of ​​37.30 $, with a possible extension to $ 38.00 if the impulse resumes.