Silver Price Stumbles Below Key Resistance Level

The price of Silver has been struggling to break through a key technical resistance level near $67.00, causing it to dip to two-day lows at $65.31 and record a 1.42% loss.

This decline can be attributed to the metal's inability to sustain its early gains in the face of elevated US bond yields, driven by rising inflationary pressures.

The white metal appears to be forming a head-and-shoulders chart pattern with bearish implications, but the pattern is not yet confirmed. If XAG/USD dives below $65.00, this clears the path to challenge the September 2 low of $63.32.