Silver prices pull back to $59.30 during the European session, struggling to overcome resistance at $60.60 amid broader market headwinds and rising yields.
Silver is experiencing downward pressure as it fails to sustain momentum above the $60.60 resistance level, retreating to $59.30 during the European session. This reversal follows a weak recovery attempt in Asian markets, highlighting a lack of buying conviction amidst broader market headwinds.
Silver is currently in a reversal phase, having fallen to $59.30 after failing to breach the $60.60 resistance level.
The immediate resistance level is identified at $60.60, which capped the price earlier in the day.
Silver prices retreated to the $59.30 level during Thursday's European session after failing to sustain momentum near the $60.60 resistance mark. The precious metal remains under pressure as elevated bond yields and persistent geopolitical tensions weigh on market sentiment.
Silver is facing downward pressure from high bond yields and ongoing geopolitical tensions, which have capped gains near the $60.60 resistance level.