Silver Reclaims $60, RSI Targets $65 on Dollar Weakness
Silver price extends weekly gains over 5.5%, reclaiming $60 for the second straight day and reaching an eight-day high of $62.42 amid broad US Dollar weakness.
XAGUSD
Silver has reclaimed the $60 mark for the second consecutive day, extending weekly gains to more than 5.5% as the white metal hit an eight-day high of $62.42. The recovery is driven by broad US Dollar weakness, which is providing support across precious metals.
The RSI (Relative Strength Index) recovery signals a potential breakout toward $65, according to the technical outlook. The price action suggests continued upside momentum as long as the dollar remains under pressure.
Source: FXStreet Forex News