Silver Prices Stabilize Above $61 Amid Short-Term Rebound Hopes

Silver prices have stabilized above $61 after hitting four-week lows, according to recent market trends. Rising US Treasury yields have reduced the attractiveness of non-yielding assets like Silver, leading to a brief downturn.

However, sustained buying interest has kept Silver prices above $61, with some investors positioning for a short-term rebound. Technical signals suggest mixed momentum, but an expected range of $60.65 to $62.61 over the next 2-3 days favors an upward move, with a 68% probability.

The metal's stabilization above the $61 level indicates a tentative return of buying interest and suggests that some investors are positioning for a short-term recovery. Despite overbought signals and key resistance, bullish momentum builds, supported by technical indicators such as the MACD registering a buy bias and the Awesome Oscillator confirming buyer momentum.