Silver Price Hits Resistance at $63 Amid Ongoing Macro Catalysts

Silver's price surge has hit a wall near $63 as it faces resistance on its weekly chart. The precious metal climbed around 5% from $58 to $64.10 an ounce last week, boosted by softer U.S. jobs data and lower Treasury yields.

This week's key macro catalysts include U.S. inflation data, producer prices, consumer sentiment, and a 10-year bond auction, which could influence Treasury yields and the dollar.

A weaker growth and inflation combination could strengthen the case for lower rates, supporting the silver price. However, stronger yields or inflation fears could limit its upside.