Silver prices have experienced significant volatility, dropping 30% recently amid the Federal Reserve's firm stance on interest rates. Currently, XAG/USD is trading at $71.69, marking a 1.85% increase over the past 24 hours, but the recovery remains uncertain. Earlier this week, prices dipped to lows near $64.00 before rebounding, yet the technical outlook remains bearish. The macroeconomic environment is challenging for non-yielding assets like silver, with the U.S. Dollar Index (DXY) near 99.32 and central banks, including the ECB and BoE, maintaining a cautious approach on rate cuts. Silver's recent peak at $80.17 on March 18 was followed by a sharp decline to $65.81, with geopolitical tensions in the Middle East providing some support. However, resistance at $80.50 remains a hurdle, and a failure to hold above $65.05 could lead to further declines.