Silver traded firmly above $72 over the past day, hovering near $73. The metal opened around $72.80, dipped to $72.10 during early European hours, then recovered to $73.20 before settling near $72.90. That is a modest gain of roughly 0.4% over 24 hours.
Geopolitics drove the action. Markets remain glued to the US‑Iran standoff and the Strait of Hormuz. President Trump’s conditional two‑week ceasefire announcement on April 7 gave silver a bid, but Iran has not officially responded. The US dollar index climbed 0.3% overnight, which normally pressures silver, but safe‑haven demand offset the dollar strength. Inflation data due later this week adds another layer of caution. Silver holds its ground because traders cannot ignore the risk of a wider conflict.
What you'll learn 👉
Silver Chart Analysis – April 9, 2026
We analyzed the silver chart and it shows silver consolidating just below key resistance.
The first support sits at $72.00. Price touched this level twice in the last 12 hours and bounced. The next major support is $70.50, which aligns with the 50‑period moving average on the 4‑hour chart. A deeper floor exists at $68.00 – the low from April 2.
Immediate resistance is $73.50. Silver tested this level three times in the past 24 hours and failed to close above it each time. Above that, $75.00 acts as a psychological ceiling. A clean break above $75 would open the door for the silver price to pump to $78.00 and then $80.00.
The RSI(14) on the 4‑hour chart reads 50.58. That is dead neutral. The RSI moved down from 55.04 over the last several candles, showing that buying momentum cooled after the ceasefire news. No overbought or oversold condition exists. That leaves room for movement in either direction.
Silver Price Forecast for Today, April 9, 2026
The neutral RSI and the consolidation below $73.50 tell one story: silver waits for a catalyst. Sudden high volume or positive news for silver could be some of these.
Bearish Silver Price Prediction
If Iran rejects the terms or delays further, the dollar strengthens and silver breaks down.
- First target: $72.00 (immediate support)
- Second target: $70.50 (50‑period MA)
- Third target: $68.00 (April low)
A rejection would likely trigger long liquidation. The RSI could drop to 40 or lower within 24‑48 hours.
Read also: Silver Price Prediction 2026-2030 – Gianni Kovac’s $200 Target Revealed
Bullish Silver Price Prediction
If Iran accepts the ceasefire and agrees to open the Strait of Hormuz, risk assets rally. But silver’s safe‑haven bid might fade initially. The true bullish case for silver comes from a different scenario: escalation. If talks collapse and military action resumes, silver flies.
- First target: $73.50 (immediate resistance)
- Second target: $75.00 (psychological level)
- Third target: $78.00 – $80.00 (breakout zone)
A clean break above $73.50 on high volume would confirm the bullish move. The RSI would need to cross above 60 to gain momentum.
Most Likely Scenario for Today
Given the neutral RSI (50.58) and the lack of official Iranian comment, silver likely stays range‑bound between $72.00 and $73.50 for most of the day. A breakout in either direction requires news. Until then, expect chop.
Silver Price: Key Levels to Watch
| Level | Price |
|---|---|
| Resistance (strong) | $75.00 |
| Resistance (immediate) | $73.50 |
| Pivot | $72.90 |
| Support (immediate) | $72.00 |
| Support (strong) | $70.50 |
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