SILVER
Silver is trading above the $63 support zone, with prices likely to decline and retest the previously mentioned support zone, while this scenario would be invalidated by a breakout above the $68 resistance zone during today’s trading.
|
Support |
63 | 60 |
| Resistance | 68 |
71 |
Silver came under strong selling pressure as the ongoing decline pushed prices toward $62 an ounce following a notable drop during the session. This performance came amid an unfavorable market environment for precious metals, with the U.S. dollar remaining firm alongside rising Treasury yields, reducing the appeal of non-yielding assets such as gold and silver. Expectations that U.S. interest rates could remain elevated for longer also added pressure on prices, particularly as strong U.S. economic data prompted markets to reassess the possibility of further monetary tightening.
At the same time, elevated oil prices and supply risks linked to tensions in the Middle East kept inflation concerns in focus, reinforcing expectations that U.S. monetary policy could remain restrictive. Silver faced greater pressure than gold due to its dual role as both an investment asset and an industrial metal, leaving it sensitive to movements in the dollar and bond yields on one side, and concerns over economic growth and industrial demand on the other. With these factors still in play, silver’s near-term performance is likely to remain closely tied to the direction of the U.S. dollar, Treasury yields, and upcoming inflation and employment data, which could shape interest rate expectations and, in turn, the broader outlook for precious metals.
You can now benefit from LDN company’s services through the LDN Global Markets trading platform.
