Silver Bounces From 56.50 but Fades Below 59.00

Silver posted a modest gain on Thursday, its first green session in recent days, but the move appears corrective rather than a bottom. The metal hit a session low near 56.50 before a spike to almost 59.00 following the release of US economic data. The rally quickly faded, with prices settling around 58.00, up about 0.8% on the day.

Traders caution that the bounce lacks conviction, noting the failure to hold above 59.00 as a bearish signal. The metal remains under pressure in the broader downtrend, and Thursday's action is seen as a short-term reprieve rather than a reversal.