Silver (XAG) has dropped to $64 as strong US business data and comments by the Fed lift Treasury yields and the US dollar. The surge in US Treasury yields has increased pressure on silver, but the outlook for silver remains constructive in the long term. In my view, silver needs to hold the $60 level to avoid a deeper correction toward the support zone of $50-$55. The gold to silver ratio and upcoming inflation data may help show whether the price can recover. This article presents the economic pressures, technical levels and the signals from the ratio that could shape the next move in silver.
Silver Price Forecast: Strong US PMI Puts $60 Support at Risk
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Key Points:
- Strong US PMI data and Fed comments keep pressure on silver through higher Treasury yields.
- Silver needs to hold $60 to avoid a test of the $50–$55 support zone.
- A gold-to-silver ratio below 64 would show silver gaining strength against gold.