Silver Price Soars Over 5% on Sliding US Yields

The Silver price has surged over 5% in a short span of time due to US Treasury yields sliding. The XAG/USD pair has bounced off daily lows of $62.19 and is currently trading at $66.68.

This upward trend in the Silver price is expected to continue, with technical analysts pointing out that the Relative Strength Index (RSI) is aiming higher towards overbought territory.

The short-term trend remains upward but has entered a phase of consolidation between $62.00 and $66.50. If buyers reclaim the top of this range, it could clear the path to challenge higher prices.