XAG/USD rises over 3% to $65.76, defying higher US Treasury yields as buyers target $69 resistance.
Silver prices climbed more than 3% to $65.76, reaching a one-month high of $66.07 despite rising US Treasury yields. The rally follows a break above the 50-day Simple Moving Average at $61.95, signaling potential further gains.
Technical indicators suggest bullish momentum, with the Relative Strength Index supporting upward movement. Key resistance levels include the 100-day SMA at $68.96 and the psychological $70.00 mark. A breach of $71.56 could open the door to April’s high of $83.06.
Support levels are seen at $63.28, followed by the 50-day SMA at $61.95 and a trendline near $57.50-$57.75. The metal’s rally reflects investor demand for diversification and hedging amid market volatility.