Bearish
Silver tests 50% retracement level amid rising yields, trading at $61.27.
Over the past 24 hours, silver prices have declined, testing the 50% retracement level of its all-time high, with spot silver trading at $61.27. This downturn is attributed to rising U.S. Treasury yields, which have surpassed 5.20%, and a strengthening U.S. dollar, both exerting downward pressure on silver prices. For buyers to regain control, yields need to retreat from their highs or the dollar needs to lose momentum.
Key points
- Silver tests 50% retracement level amid rising yields.
- Spot silver trading at $61.27, down 4.72%.
- 10-Year U.S. Treasury yield above 5.20%, pressuring silver prices.
- Buyers need yields to retreat or dollar to lose momentum to regain control.
Sources
AI-generated from public news sources. Not financial advice.
