XAG/USD climbs 2.7% to $59.94 on Thursday, driven by a softer US Dollar and lower Treasury yields amid technical rebound.
Silver prices jumped 2.7% to $59.94 on Thursday, recovering from daily lows of $57.59 as US Treasury yields retreated and the US Dollar declined over 0.12%. The move reflects short-term buying momentum, though the broader downtrend remains intact with a lower-high, lower-low structure still in place.
The Relative Strength Index (RSI) signals bullish momentum but stays below the 50-neutral level, suggesting potential downside risks. A break above $60.00 could target the July 6 swing high, while a drop below $57.22 may test June’s low of $55.63.
Market focus remains on technical levels, with resistance at $64.70 and support at $54.39, the latter marking a key level from November 12, 2025.