Silver Price Forecast: XAG/USD Tests Sub-63.00 Levels as Bearish Pressure Intensifies

During Wednesday's intraday session, Silver/USD fell for a second consecutive trading day, trading near $63.24, down approximately 0.4% on the day. After a sharp reversal from the $66.50 region on Tuesday, the break below the $64.00 level has significantly intensified technical selling pressure, weighing on the precious metal's short-term outlook.

**Technical Selling Pressure Dominates Short-Term Moves**

After silver lost the $64.00 round-number level, market sentiment turned notably weaker. According to Fxstreet, silver's bullish momentum has faded following its recent rebound, with Tuesday's decline of 2.77% closing near $63.96. The current price is extending its decline, testing support at the $63.00 level. If this psychological threshold gives way, it could trigger further stop-loss selling, amplifying downside pressure.

**Macro Factors Weigh on the Precious Metals Sector**

U.S. Treasury yields maintain upward momentum, directly pressuring silver as a non-yielding asset. Meanwhile, the U.S. dollar index holding near recent highs also makes dollar-denominated silver more expensive for holders of other currencies. Market reports indicate that despite rising energy prices amid a lack of progress in U.S.-Iran talks, this has not effectively boosted silver's industrial-demand profile; instead, the metal has been dragged down by fluctuating overall risk appetite.

**Institutional Forecasts Show Significant Medium-Term Divergence**

Regarding the outlook, market views are clearly divided. WalletInvestor's model projections suggest silver prices may recover after a slight decline in autumn, potentially reaching a November high of $64.64, before retreating to around $62.14 in December. CoinCodex's forecast is more bearish, suggesting a slow decline that could see prices hit a low of $15.71 by Q4 2027. This wide disparity reflects the high uncertainty in the current macro environment, and investors should closely monitor Federal Reserve policy signals and dollar movements.