SILVER
Silver trades below resistance zone at 90.50$, and prices are likely to move sideways between the aforementioned resistance area and support level at 66$ during today’s session.
|
Support |
66 | 55 |
| Resistance | 90.50 |
108 |
Silver recorded a notable decline during today’s trading as a relative pickup in demand for the U.S. dollar and a reassessment of interest rate expectations weighed on industrial metals that are sensitive to the economic cycle. Prices fell by around 3%, approaching the $75 per ounce area.
The pullback comes amid continued uncertainty over the trajectory of U.S. monetary policy following mixed inflation data, prompting traders to reduce exposure to rate sensitive assets. Remaining below the 66–77 dollar range reinforces short term bearish control and keeps the door open for a test of lower support levels unless strong buying momentum returns or the dollar weakens meaningfully in the coming sessions.
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