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Silver prices (XAG/USD) have rebounded above $60 for two consecutive days, marking a weekly gain of over 5.5% and reaching an eight-day high of $62.89. The recovery follows a weakening U.S. Dollar and a technical rebound in the Relative Strength Index (RSI), which has pushed the metal closer to the $65 resistance level. Traders are now monitoring whether the $65 threshold can be breached, which could trigger further upward momentum.
The rally in silver is significant as it reflects broader market sentiment toward risk-on assets and potential inflationary pressures. A sustained move above $65 would likely attract more speculative buying, especially as the metal remains underpinned by industrial demand and safe-haven appeal. However, a failure to hold above $60 could see renewed bearish pressure.
For investors, the coming days will be critical. Key levels to watch include $65 (resistance) and $58 (support). A breakout above $65 might target $70, while a drop below $58 could signal a deeper correction. Market participants should also track U.S. Dollar movements and macroeconomic data for directional clues.
