Silver has endured a violent reversal in the past two weeks, swinging from near $90 to the mid-$70s as geopolitical panic surrounding the Iran conflict intensified and then eased sharply. The initial steep decline was fueled by fears of an imminent US strike on Iran earlier in the week and a potential collapse of the fragile ceasefire framework, which sent Brent crude above $111.
Silver Price Forecast: XAG/USD fails near 23.6% Fibo. and slides back to $76.00
Silver Price Analysis: Consolidates near $76.50 as RSI hints at upside
Silver Price Forecast: Bears retain near-term control as RSI slips below 50
Silver continues to be noisy on Thursday, as traders are watching the interest rate markets closely. With this, the markets continue to see a lot of choppiness.
Silver prices fall as elevated Treasury yields and a firm U.S. dollar pressure the silver market and keep Fed-driven uncertainty in focus.
Silver Price Forecast: XAG/USD faces pressure near $76.60 as US yields rebound
Silver Price Analysis: Bullish harami forms, eyes on $80 breakout
Ultimately, I think the markets are likely to continue to see more of a sluggish performance as rates will continue to cause some issues going forward. As things stand, short-term moves are about as good as it gets.
Silver price today: Silver rises, according to FXStreet data
Silver Price Forecast: XAG/USD rebounds above $75, higher Treasury yields limit upside
Silver Price Forecast: XAG/USD remains calm above $73.50 as inflationary risks increase