Silver prices jump over 7% to breach key resistance at $85.00, targeting $86.00 as momentum builds.
Silver prices climbed more than 7% on Monday, breaking through critical resistance at $83.05, the April 17 high. The rally extended to the $85.00 psychological level, fueling expectations for a test of $86.00 per troy ounce.
The move follows a sustained uptrend, with $83.05 serving as a pivotal technical barrier. Prior attempts to breach this level had stalled, but Monday’s gains suggest renewed bullish sentiment in the precious metals market.
Market participants are closely watching whether silver can sustain momentum above $85.00, a level not consistently held since early 2023.