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Silver (XAG/USD) has rebounded toward $61.70 per troy ounce after plummeting over 5% in the previous session, hitting fresh six-month lows amid weak industrial demand and a stronger U.S. dollar. The recent decline reflects broader macroeconomic pressures, including rising real interest rates and reduced speculative positioning in the precious metals market. Traders are now monitoring key technical levels, such as the $62.00 psychological threshold and the 50-day moving average, for potential reversal signals.
This price action is significant for commodity traders as it highlights the interplay between macroeconomic factors and technical dynamics. A sustained break below $61.50 could accelerate losses toward $60.00, while a recovery above $62.50 might attract short-covering and speculative buying. The U.S. Dollar Index and Federal Reserve policy outlook will remain critical drivers for silver’s near-term trajectory.
For investors in the MENA region, the rebound offers an opportunity to reassess exposure to silver amid global economic uncertainty. Key events to watch include upcoming U.S. inflation data and central bank gold purchases, which could influence market sentiment. Technical traders may focus on Fibonacci retracement levels and volume patterns to gauge the sustainability of the recovery.
