Silver Finds Temporary Support Near $63.50, Downside Risk Persists
Silver (XAG/USD) rebounded to near $65.00 after hitting a two-month low of $63.45, but analysts warn the downside bias remains intact.
Silver prices staged a modest recovery during European trading on Wednesday, bouncing from the $63.45 area—the lowest level in two months—to trade around $65.00.
Despite the intraday rebound, the broader technical outlook remains bearish. The precious metal is seen as finding only temporary support near the $63.50 zone, with sellers likely to reemerge on any further strength.
Market participants continue to weigh the impact of a stronger US dollar and rising bond yields, which have weighed on non-yielding assets like silver. A sustained break below $63.45 could open the door to deeper losses.
Source: FXStreet Forex News