Silver holds support near 74

David Morrison

SENIOR MARKET ANALYST

09 Apr 2026

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Silver has been on a similar journey to gold this week. It shot higher on Tuesday night following the announcement of the ceasefire as the US dollar tanked. It peaked at around $77.50 yesterday afternoon and has since sold off. But it has managed to find some support around $74.00 so far this morning.

Source: TN Trader 

Investors appear to be content to sit on their hands ahead of the first round of talks concerning a permanent ceasefire currently scheduled for Saturday in Pakistan. The precios metal had suffered some selling pressure since early March as oil prices surged following the closure of the Strait of Hormuz.

Higher energy prices strengthened expectations of tighter monetary policy globally, which weighed on non-yielding assets. But those expectations eased after the announcement of the two-week ceasefire, with the CME FedWatch Tool now showing a 71% probability that the Federal Reserve will keep interest rates unchanged this year.


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