Home›Commodities›Precious Metals›Silver slips after Treasury yields firm and dollar wea…

Silver slips after Treasury yields firm and dollar weakens

Silver is trading around $60.50 after a more than 6% weekly drop, with $60.00 the next support level watched by traders.

Reported · Written up by our desk · Precious Metals

Silver eased on Friday, falling about 0.76% to trade near $60.50 as US Treasury yields edged higher and the US dollar’s recent slide lost momentum, according to FXStreet.

FXStreet said investors punished the greenback after a soft US jobs report, a move it linked to silver’s retreat and the broader weekly decline.

The outlet noted silver is positioned below the 50- and 100-day simple moving averages near $64.06 to $64.74 and is set to test the $60.00 level, following weekly losses of more than 6%.

FXStreet added that if $60.00 breaks, the next downside reference is the August 3 low at $56.57, while it said a sustained rebound would require silver to regain the 50- and 100-day moving averages before targeting $65.00.

Latest closeSilver $60.71 ▼0.0%

More like this

Sources