SILVER
Silver declined in morning trading until prices reached near the $62 support area, which is likely to limit the pace of decline during today’s trading.
|
Support |
62 | 58 |
| Resistance | 69 |
75 |
Silver declined today under pressure from a stronger U.S. dollar and rising U.S. Treasury yields, as markets increased expectations that U.S. interest rates may remain elevated or that a rate hike scenario could return later. This reduced the appeal of non-yielding metals. Tensions related to Iran and the Strait of Hormuz also increased concerns over inflation and energy prices, pushing investors to favor the dollar over precious metals. According to market data, silver fell to around $64.94 per ounce during today’s trading, with selling pressure continuing after a sharp decline over the past month.
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