Silver surged over 2.70% on Thursday, climbing toward the $60 mark as US Treasury yields pulled back and the dollar weakened by more than 0.12%. The precious metal rebounded from intraday lows of $57.59 to trade at $59.94, showing renewed buying pressure after recent volatility.
The rally comes as broader dollar weakness creates favorable conditions for commodity traders, with falling Treasury yields adding to silver’s appeal as an alternative asset. Despite Thursday’s strong bounce, the technical structure suggests silver remains in a lower-low pattern, indicating underlying bearish momentum hasn’t fully reversed.
Traders and brokers should watch whether silver can break decisively above $60 to signal a potential trend reversal, or if resistance at this psychological level will reinforce the prevailing downtrend structure. The correlation between dollar weakness and silver strength remains intact, making currency market movements critical for positioning.
FXnCO Insight
Monitor the $60 resistance level closely—failure to break above could present shorting opportunities, while a sustained breakout may trigger stop-loss cascades and extended gains toward $62.
Source: FXStreet