Silver Struggles at $60, Gold Volatile Amid High Interest Rates

The silver market saw an increase during the week but is struggling to break above the psychologically significant $60 level. The $55 mark continues to provide support, a crucial area as the market navigates high interest rates.

The gold market also rallied to around $4,200, only to pull back from that level, which has been a significant support area multiple times. The $4,000 and $3,900 levels are key areas of interest for traders.

In contrast, the USD/CAD pair saw a rally against the Canadian dollar this week, despite oil prices spiking. This is not surprising given the current market environment with high interest rates in the US. The buyers remain interested as long as there's a positive carry on this trade.