Silver prices registered losses of more than 2.40% on Thursday after the Federal Reserve held rates unchanged and hinted that they would likely cut once instead of the three foreseen in the March Summary of Economic Projections (SEP). At the time of writing, the XAG/USD trades at $28.95. XAG/USD Price Analysis: Technical outlook: From a price action standpoint, the XAG/USD is neutral to upward biased. The downtrend is capped by the presence of the 50-day moving average (DMA) at around $28.74, which is seen as the first support level. The grey metal bounced from around three-week lows of $28.66 to current spot prices. (full story)