Commodities
US PMI Dumps Silver Price Below $60 Support
The US business data has sent shockwaves through the market, causing the silver price to drop to $64.
According to some analysts, this strong US PMI could put the $60 support level at risk, potentially leading to a deeper correction towards the $50-$55 zone.
However, despite the current pressure on silver due to the surge in US Treasury yields and the strengthening of the US dollar, the long-term outlook for silver remains constructive.