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Silver slides as Treasury yields stay high and sentiment turns riskier
Silver trades around $59.66, with a bearish path requiring a break below the July 8 low at $57.22.
Silver prices retreated during the North American session, edging down 0.54% after US Treasury yields remained high and market sentiment shifted following US President Trump’s announcement that the ceasefire is over, according to FXStreet.
At the time of writing, XAG/USD was trading at $59.66, with the market continuing to respect a pattern of lower highs and lower lows, while the Relative Strength Index stayed below the 50 neutral level and pointed toward oversold conditions.
FXStreet said the setup favors further declines unless traders clear the July 8 daily low of $57.22. Below that level, the article highlights the year to date low of 55.63 set on June 22, and then a potential move toward the November 13, 2025 high-turned-support at $54.30.
On the upside, the view turns more neutral only if buyers reclaim a downslope resistance trendline drawn from around June highs in the $62.25 to $62.50 area, which would open the door to challenges at the 50-day and 200-day simple moving averages at $69.94 and $70.31, respectively.
Latest closeSilver $60.30 ▼0.1%