In spite of gold’s difficulties, silver (XAG/USD) is bouncing back from its 5-month lows and proving to be resilient. Investors remain alert as they watch for information on the central banker summit, economic projections, and discussions of interest rates.

A Reuters survey suggests the Fed may suspend rate increases after March, with some suggesting a possible rate decrease. External factors like rising Treasury bond yields and home mortgage rates could diminish the Fed’s desire to raise interest rates. China’s rate drop has increased market uncertainty in Asia.

The short-term outlook on Central bank decisions significantly impacts silver’s near-term price movement. The market is anticipating Powell’s speech, and any dovish or hawkish signals could cause changes. The SPDR Gold Trust’s first inflow since July highlights investor demand for precious metals. Natural demand patterns and global macroeconomic indices are influencing the future course of silver, which is a tightrope walk.

Silver’s 4-hour price is 22.82, slightly lower than 22.85. It is between the 200-4H moving average and the 50-4H moving average, showing neutral to slightly bearish momentum in the short term. However, it is above the 50-4H MA but below the 200-4H MA in the long term. The 14-4H RSI is 55.19, above the neutral 50 level but not yet in the overbought zone, indicating increased momentum.

The price is close to the primary support range (22.70 to 22.28) and below the primary resistance area (23.00 to 23.85), thus the market is leaning towards being bearish, while it is open to a short-covering rebound in the immediate term.

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