Bullish
Silver prices test $70 resistance amid U.S. Treasury buyback plans and Indian import rebound.
Over the past 24 hours, silver prices have approached the $70 per ounce mark, driven by the U.S. Treasury's announcement to double long-dated bond buybacks, which has lowered yields and weakened the dollar. Additionally, India's silver imports have rebounded, indicating renewed demand in Asia.
Key points
- U.S. Treasury's plan to double long-dated bond buybacks to at least $4 billion starting September 9 has led to lower yields and a weaker dollar, boosting silver prices.
- India's silver imports have rebounded, with approximately 90 tonnes imported through the India International Bullion Exchange in August, following six months without imports through the exchange.
- Silver prices have tested the $70 per ounce level, the highest since mid-June, but have faced resistance, indicating potential consolidation before further gains.
- The U.S. dollar has firmed slightly, limiting some of silver's upside, as markets await key U.S. data and Federal Reserve signals this week.
Sources
- Silver (XAG) Forecast: Silver Rally Eyes 200-Day MA After $70 TestFXEmpire · August 24, 2026
- Gold rallies after Treasury buyback plan lowers long yields, India silver imports rebound under new regime – HeraeusKitco News · August 24, 2026
- Silver Price Forecast: XAG/USD holds bullish below $70.00/two-month high set on FridayTMGM · August 24, 2026
- Silver Price Forecast: Buyers stall near $70 after strong rallyTMGM · August 24, 2026
AI-generated from public news sources. Not financial advice.
