Silver Prices Near $59, Analysts See Path to $72

Silver prices have risen to near $59 an ounce as geopolitical uncertainty and renewed demand for precious metals offset concerns about higher U.S. interest rates.

The metal's short-term chart shows a tightening technical range, with a break above $59.20 potentially opening the path toward $60.

Traders are awaiting the June U.S. job openings report for fresh clues about the Federal Reserve's next move, and markets are pricing a 65% probability of a September rate increase, which could pressure non-yielding metals if Treasury yields and the dollar rise.