Silver Price Under Pressure, Targets Key Support Level

The price of Silver (XAG) has been under pressure, trading at $66.05 and down 1.41% for the day. It's sitting close to its session low and below its short-, medium-, and long-term moving averages, indicating sustained downside momentum.

The asset has been trading in a narrow range of $64 to $68, with demand supported by US Dollar weakness and lower Treasury yields. However, price action has seen intraday volatility, with Silver dropping to $65.46 before closing at $66.11.

Technical indicators suggest that Silver trades below key averages under persistent selling pressure, with a projected 2 to 3-day range of $65.19 to $66.91 and a 59% probability of further downside.