Silver Under Pressure as Rising Rates Threaten $60 Support

Silver prices are facing pressure from rising interest rates, putting its $60 support level at risk. Despite this, some analysts remain bullish on silver's long-term prospects.

The market is currently viewed with caution by one analyst, who suggests it may be a 'fade-the-rally' situation for short-term traders. However, they also see potential for a move to $70 if the 50-day and 200-day EMA indicators are broken.

Silver's supply issues are expected to worsen with the increasing demand driven by AI and economic electrification. This is seen as a long-term positive for silver, but it may take time to play out.