The battle in Silver has entered a far more important stage. Breaking below $60 is psychologically significant, but the market's attention is already shifting to another level roughly ten dollars lower.
Silver Price Forecast: XAG/USD falls to near $56.50 amid rising Fed rate hike odds
Silver continues to test support on Wednesday, as we are looking at a potential massive selloff in this market. The correlation between rates and price has completely broken down.
Silver hits its lowest level since December as a strong dollar, rising yields, and Fed hawkishness put critical $60.83 support at risk.
Silver Price Forecasts: XAG/USD licks its wounds above $61.00 amid a strong US Dollar
Silver price today: Silver falls, according to FXStreet data
Silver Price Forecast: XAG/USD sees fresh downside leg below $60 amid hawkish Fed bets
Gold and silver remain under pressure as the dollar rallies, rising Treasury yields, and Fed rate hike expectations put key support levels at risk.
Silver Price Forecast: Can bulls defend $60 as the US Dollar climbs to one-year highs?
Silver drops as risk appetite crumbles early on Tuesday, with the Iranians claiming they will administer the Straight of Hormuz going forward. Silver remains volatile overall, so position sizing is crucial.
Silver price today: Silver falls, according to FXStreet data
Gold and Silver are facing increasing downside risks as the US Dollar Index and Federal Reserve rate hike expectations continue to gain bullish traction.