Silver prices surged 1.14% to $61.13, defying headwinds from a stronger US Dollar and higher Treasury yields as the metal builds a solid base above the $60 support level.
Silver is demonstrating resilience by trading up 1.14% to $61.13, successfully maintaining a support level above the $60 mark. This upward momentum persists despite macroeconomic headwinds, specifically the strengthening of the US Dollar Index (DXY) by 0.26% and rising US Treasury yields, which typically exert downward pressure on precious metals.
As of the latest report, XAG/USD is trading at $61.13.
Silver gained 1.14% despite the US Dollar Index (DXY) rising by 0.26%.
US Dollar Index extends gains by 0.26%, reflecting a stronger greenback.
Silver prices climbed 1.14% on Monday, reaching $61.13 as the metal demonstrated resilience against a strengthening US Dollar. Despite the DXY index gaining 0.26% and rising Treasury yields, silver successfully bounced off daily lows of $60.36 to maintain upward momentum.
Silver defied the typical inverse relationship with the US Dollar, gaining 1.14% even as the DXY index rose by 0.26%.