Silver Price Forecast: Final Drop May Complete Silver Bottom Near $50
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Key Points:
- Silver may complete its final drop near the $50 buy zone before the next major rebound begins.
- A stronger U.S. dollar and higher Treasury yields continue to pressure silver in the short term.
- A break above $72 would improve momentum and may open the path toward the $90 area.
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Silver (XAG) prices remain under pressure as U.S. dollar and Treasury yields continue to rise. The renewed tensions between the US and Iran have pushed oil prices higher and increased the market uncertainty. This has resulted in another sell-off in metals. But the bigger picture for silver remains bullish. In my view, the current decline may be the final stage of correction before a stronger rally begins. The $50 to $60 area remains the key buy zone and a move toward $50 could complete the bottom formation and initiate a rally to $90.