Silver Price Hits Resistance as Yields and Geopolitics Weigh

The silver price has stalled near key EMAs, and analysts are attributing this to higher yields and geopolitical risks. Breaking above $70 could be a crucial milestone for the bulls, but for now, it's a wait-and-see situation.

Higher yields typically work against silver, according to analysts, which may be contributing to the hesitation in the market. Additionally, despite breaking out of consolidation, the price hasn't made a major swing high yet. The 200-day EMA is a significant indicator of the trend, and if it's broken above $70, it could signal a bullish trend.

However, there are still economic concerns, including weaker numbers from the United States, which may be part of what's holding back silver. Major headline risk remains a factor in the market, keeping investors on edge.