Silver Stabilizes at $60 Amid Rising Macro Pressure and Physical Tightness

Silver's price has stabilized after its sharp sell-off earlier this year. Since May, it has hovered around $60 an ounce as a softer US dollar and renewed precious-metals buying attracted dip-buyers back into the market.

However, the rebound was short-lived due to renewed Middle East escalation pushing oil above $100 a barrel, lifting inflation concerns and Treasury yields, which in turn strengthened the US dollar. As a result, silver slipped below $60 again, remaining more than 50% higher than its price a year ago.

The question now is whether this is another setback in a broader recovery or evidence that higher-for-longer interest rates are taking control. For Australian traders, the situation is complicated by the interplay between rising macro pressure and physical market tightness.