Silver prices rise toward $60 as US yields and dollar retreat

Silver prices rose approximately 2% to trade near $60 per ounce following a retreat in US Treasury yields and a softening US Dollar. The recovery comes after a period of selling pressure that had previously pushed the metal toward $58.50.

Technical analysts note that while the recent rebound is notable, the market remains sensitive to US interest rate policy and the Federal Reserve's stance on monetary tightening. Some experts suggest that silver may still test deeper support levels between $54 and $55 before establishing a sustained bullish trend. Key resistance levels to watch for a potential rally include the $63 to $68 range, with long-term targets reaching as high as $76 to $88 if momentum strengthens.