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fxJul 16, 2026, 2:27 AM

Silver Downtrend Persists Below $63 After Record High

Silver (XAG/USD) remains under downside pressure following its all-time high, with Elliott Wave analysis indicating a bearish bias below key resistance at $63.

XAGUSD

Silver reached an all-time high of $121.6 on January 29, 2026, but has since entered a pronounced corrective decline. According to Elliott Wave analysis, the downside structure remains intact as long as prices stay below $63. The decline is expected to extend toward the 100% Fibonacci extension level.

Source: FXStreet Forex News