Silver Rebounds Toward $62 After Hitting Six-Month Lows
Silver (XAG/USD) recovered from a six-month low, trading around $61.70 during European hours after a 5% loss the previous day.
XAGUSD
Silver prices staged a modest rebound on Tuesday, rising toward $62 per troy ounce after plumbing fresh six-month lows in the prior session. The white metal traded near $61.70 during European hours, recouping some of the more than 5% decline suffered on Monday.
The recovery comes after silver breached key support levels, but buyers stepped in to halt the slide. The XAG/USD pair remains under pressure from a strong US dollar and elevated bond yields, though the latest bounce suggests short-term oversold conditions may be attracting bargain hunters.
Source: FXStreet Forex News