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Silver slips after failing to reclaim $60, bears target $54
XAG/USD is sitting near $56.00 after hitting a fresh year-to-date low of $54.77, with the next downside level cited at $54.39.
Silver prices are struggling after failing to reclaim the $60.00 level, leaving the precious metal on track for a weekly decline of more than 6.5%, according to FXStreet.
At the time of writing, XAG/USD was trading around $56.00 per troy ounce, after printing a new year-to-date low of $54.77. The report said the inability to get back above $60.00 keeps the downward market structure intact.
FXStreet pointed to $55.00 as the first support, followed by $54.39, identified as a prior daily high turned support from November 13, 2025. If prices break lower further, the next level mentioned is the November 21, 2025 swing low at $48.64.
On the upside, the newsletter upgrade described $60.00 as the trigger for a rebound toward the July 6 swing high at $63.28, with additional resistance at $65.00 and the 50-day simple moving average near $68.01.
Latest closeSilver $61.56 ▼0.9%