Silver Price Forecast: XAG/USD Stays Bullish, Pullback Limited Above $67.40

During early European trading on Thursday, spot silver found support above $67.40 after a pullback from the $70 area, currently trading near $69.20 with intraday losses narrowing, while the overall price remains firmly above the previous high of $67.00.

**Key Support Holds, Bullish Structure Intact**

Despite selling pressure during the Asian session, silver prices failed to decisively break below the key support zone, suggesting active dip-buying remains in play. Technical charts show prices stabilizing above the prior dense trading range, with the broader uptrend unbroken. One market analyst noted that silver's rapid rebound from near $63.90 showcased remarkable intraday volatility, indicating strong self-recovery capacity in the market after sharp selling.

**Market Turns Cautious Ahead of Jackson Hole**

While the technical outlook remains bullish, short-term momentum is constrained by expectations of macro events. With the Jackson Hole global central bank symposium approaching, traders are generally reducing positions, keeping precious metals markets in a tug-of-war for most of the week. This cautious sentiment limits silver's upside, keeping it in a narrow range between $69 and $70 as it awaits further policy signals.

**Key Focus Ahead**

Current market attention is fully centered on the upcoming symposium, where any hints on the monetary policy path could break the recent range-bound stalemate. If fundamentals align, silver's solid bullish technical structure provides a foundation for an upward breakout and a retest of recent highs. Conversely, if key support near $67 fails, deeper pullback risks warrant caution.