Commodities
Silver Price Slips Lower Amid Elevated Interest Rates
The silver price has been drifting lower as interest rates remain elevated.
A breakdown below $55 would be a psychologically negative turn of events, but this level has offered support recently.
This comes as the $60 level is currently offering resistance, and the 50-day EMA at $63.45 acts as a barrier to further declines.
The silver price could potentially test the $50 level, an area that previously served as major resistance going back to the late 70s when the Hunt Brothers tried to corner the market.