The silver market finds itself on the back foot early on Thursday, as we are looking at rates continuing to climb overall. With the negative correlation in effect, the drop in price isn't a surprise.
Silver price today: Silver falls, according to FXStreet data
Silver Price Forecast: XAG/USD rebounds to near $60.50 despite soaring bond yields
Silver Price Forecast: XAG/USD cracks $60 as bears eye $56
Silver broke below $60.835 and $59.69 as yields and the dollar climbed before Fed minutes and the $39 billion 10-year Treasury auction.
Silver continues to test support as rates rise. This is a market that will continue to suffer as long as rates are elevated, something that seems to be a fact of life at the moment.
Silver Price Forecasts: XAG/USD drifts toward $60 as precious metals struggle
Silver price today: Silver falls, according to FXStreet data
Silver Price Forecast: XAG/USD remains below $61.00 as oil prices surge
TL;DR: Deutsche Bank sees Silver's physical deficit narrowing toward a possible 2027 surplus as solar demand intensity falls and vault inventories rebuild, but with Silver trading around 60.80, the next move still hinges on the near-term technical fight between 58.68 support and 62.30 resistance—and on Wednesday's FOMC minutes.
Gold and silver remain under pressure ahead of the Fed minutes, with gold's $4,100 support and silver's $60 level at risk.