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Silver holds near $63 as COMEX charts show a bearish pullback
COMEX silver futures hovered just above $62.75 per ounce on July 6, 2026, after dipping to a 2026 low near $55 before rebounding to about $66 on August 12.
Silver is trading in a choppy, pullback phase after earlier gains, with nearby COMEX silver futures just above $62.75 per ounce on July 6, 2026, according to Yahoo Finance. The metal later fell to a lower 2026 low before recovering to around $66 on August 12.
Technical analysis in the article points to a bearish trend since silver’s all-time high of $121.785 per ounce on January 29, 2026. It says the market has been posting lower highs and lower lows, including a latest low of $55.00 per ounce on July 17.
The piece frames $50.36 per ounce, the 1980 high that has acted as long-term resistance, as a critical support level after the market broke above it in October 2025 and more than doubled by January 2026. It also notes that, despite the decline and a 54.8% drop to the July 2026 low, the broader long-term bullish trend since the 2020 low of $11.64 remains intact.
Fundamental context is also cited, including the Silver Institute’s World Silver Survey 2026, released in April 2026, which said 2026 marks the sixth consecutive year of a deficit. The article adds that 2025’s deficit was 40.3 million ounces, and it attributes rising demand to uses in electronics and silver’s role in electrical conductivity for AI hardware, data center construction, and EV electronics.
Latest closeSilver $64.83 ▼0.1%