Silver prices have fallen over 1.50%, with the metal poised to end June down more than 22.50% after dropping below $60.00 per troy ounce [1]. The decline is attributed to rising US Treasury yields, a strengthening US Dollar, and the absence of a geopolitical risk premium, all of which are exerting downward pressure on the non-yielding asset [1].
Technically, silver is consolidating within the $55.70–$59.57 range, with buyers unable to reclaim the $60.00 level [1]. The 50-day Simple Moving Average (SMA) at $72.61 is approaching the 200-day SMA at $69.64, signaling a potential 'death cross'—a bearish technical pattern that would reinforce the dominance of sellers and suggest further losses ahead [1]. The Relative Strength Index (RSI) is also trending lower, nearing oversold territory, indicating that the path of least resistance remains downward [1].
If silver (XAG/USD) falls below $57.00, it could test the December 9, 2025, low of $56.49, followed by the October 17, 2025, high of $54.46, and then the November 21, 2025, daily low of $48.63 as subsequent support levels [1]. For a bullish reversal, buyers would need to push prices above the $60.00 mark, with the next target being the 200-day SMA at $69.64 [1].
The article notes that silver's price is influenced by factors such as US Dollar strength, interest rates, and industrial demand, particularly from the US, China, and India [1]. However, current market conditions—specifically the strong dollar and higher yields—are keeping silver under pressure [1].
CONCLUSION
Silver is under significant selling pressure, trading below $60 and facing technical signals that suggest further downside. Unless buyers reclaim key resistance levels, the market outlook remains bearish, with the potential for additional declines if support levels are breached.