Silver price surges nearly 3% as it clears the 50-day Simple Moving Average (SMA) at $62.13, and reclaims the $63.00 figure as it struggles to surpass key resistance seen at $63.28, the July 6 high. XAG/USD Price Forecast: Technical outlookSilver trades sideways, but bulls are gaining traction, as indicated by the Relative Strength Index (RSI). If XAG/USD retreats below the $63.00, a retracement towards the 50-day SMA is on the cards. On further weakness, Silver could fall towards the $60.00 mark, followed by the August 3 low of $56.57. XAG/USD Price Chart – DailySilver daily chart