Silver Prices Stagnant at $66 as Fed Hike Expectations Weigh on Recovery

Silver prices held steady around $66 an ounce on Tuesday as a weaker US dollar helped precious metals recover. However, elevated Treasury yields and renewed expectations of a Federal Reserve rate hike kept the upside in check.

The near-term silver price outlook remains finely balanced, with buyers defending the mid-$60s after the metal's sharp retreat from its January record. Resistance around $70-$72 continues to block a more convincing recovery.

U.S. inflation data later this week could determine whether that range breaks, with softer inflation potentially reducing rate-hike expectations and putting pressure on yields.

The long-term chart shows how dramatically the market has changed this year, with XAG/USD surging above $120 an ounce in January before reversing sharply. The recovery has not yet repaired the broader technical damage.