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Silver climbs above $61 as traders watch $64 resistance
XAG/USD was last around $61.1 after bouncing from about $60.4, with a move through $62 seen as the trigger for a test of the $64.1 to $64.6 area.
Silver prices edged higher on Monday, with XAG/USD up more than 1.1% and trading around $61.13 after rebounding from daily lows near $60.36, according to an FXStreet market note.
The same note said the greenback was stronger, with the US Dollar Index (DXY) up about 0.26%, while US Treasury yields rose, alongside the firmer silver tone.
FXStreet added that the setup is leaning toward a potential bottom as silver stays above $60.00, and it highlighted $64.00 as a key resistance level.
On the upside, a break above $62.00 could open the way toward the 50- and 100-day simple moving averages around $64.12 and $64.58, while a bearish reversal scenario would require silver to fall below $59.69 and then lower support levels cited near $56.57 and $54.77.
Latest closeSilver $61.40 ▲2.4%|Dollar index 102.12 ▲0.2%