- La Plata goes back from a maximum intradic of $ 36.84, currently quoting around 36.40 $.
- XAG/USD remains above the 21 -day EMA, ascending wedge formation remains intact.
- A rupture below the wedge support exposes the negative side around 35.00 –34.80 $.
La Plata (XAG/USD) is sailing in a volatile session on Thursday, investing its course during the first hours of negotiation in America after having risen modestly during the day. The metal is still supported by the generalized weakness of the US dollar, which intensified after the new criticisms of the President of the Federal Reserve (Fed) Jerome Powell by President Donald Trump.
La Plata is descending from an intra -dome peak of 36.84, with the XAG/USD quoting around 36.40 $ at the time of writing. The recoil occurs after a series of important economic data from the US, which caused some intradic volatility.
The US economy contracted 0.5% in the first quarter of 2025, marking its first quarterly fall in three years, since consumer spending and exports were reviewed down significantly. Meanwhile, the initial requests of unemployment They fell 9000 to 236,000 last week, offering a modest signal of resilience in the labor market. In other places, the factory orders in the US increased by 16.4% intermensual in May, well above the forecasts, while the trade deficit of goods was extended to 96.6 billion dollars, indicating a renewed external pressure.
Meanwhile, the underlying silver demand remains well supported by strong investment flows and resilient industrial use. Holden holdings in the stock exchange (ETFS) backed by silver have constantly increased in recent weeks, reflecting a renewed interest of both institutional and retail investors in the midst of growing expectations of feat cuts by the Fed by the Fed later this year. Meanwhile, the long speculative positions in Comex Silver Futures remain high, underlining the upward feeling in the broader markets. On the industrial side, the demand is still driven by a robust activity in the solar energy and electric vehicles sectors. The supply deficit in the silver physical market further reinforces the upward perspective, maintaining the upward and well -contained movements.
From a technical point of view, La Plata (XAG/USD) remains in a consolidation phase after reaching a peak about 37.00 last week. The metal briefly tested the lower limit of ascending wedge formation on Wednesday, managed to stay above it, keeping intact the broader upward structure for now. The XAG/USD currently quotes around $ 36.40, well above the exponential (EMA) mobile average of 21 days in $ 35.66, which continues to act as dynamic support.
The RSI in 61.47 suggests that the bullish impulse is still present but begins to cool, without immediate signs of overcompra. The true average range (ATR) in 0.79 indicates a decreasing volatility, reflecting consolidation.
The 10 -day impulse indicator, which measures the rate of change in the price, has flattened near zero, indicating a loss of directional conviction among short -term operators. A decisive breakdown below the wedge support could expose a setback to the area of 35.00 –34.80 $, while a sustained movement above $ 36,85 would clear the way for a new test of the recent maximum of several years about 37.40 $.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
