Strong Dollar Sinks Silver Price
Silver's price has declined by 1.27% in a day, reaching $60.69 due to increased investment demand pressure from rising global bond yields and a strong US dollar.
The strengthening US dollar makes silver relatively more expensive in other currencies, dampening investment demand for the metal.
Technical indicators point to further declines, with a projected trading range of $58.57 to $62.81 and a high probability of downward pressure on prices.