SILVER
Silver is trading in a medium-term downtrend, opening the door for further declines and new lows. However, a breakout above the $59.50 resistance level could push prices toward $62.70 during today’s trading.
|
Support |
55.00 | 52.50 |
| Resistance | 59.50 |
62.70 |
Silver prices declined during today’s trading session, pressured by rising oil prices and renewed inflation concerns, which strengthened expectations that U.S. interest rates could remain elevated for longer. The metal also faced pressure from rising U.S. Treasury yields and a stronger dollar, amid weakening investor appetite for precious metals, despite silver’s typical appeal as a tangible asset during periods of uncertainty.
Silver fell by around 3% to trade near $56.2 per ounce, extending its losses amid continued pressure across the metals market. Investors are awaiting the upcoming Federal Reserve meeting and monitoring developments in energy prices and inflation. Silver’s performance also remains closely tied to industrial demand, alongside movements in the U.S. dollar and Treasury yields, factors that could keep volatility elevated in the coming period.
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