Silver Price Nears Record Highs After Breaking the $63.6 Level

Silver price extended its strong upward momentum on Thursday, supported by falling real US Treasury yields and a weaker dollar, boosting investor appetite for the white metal as a safe haven and an effective hedge amid monetary uncertainty.

The move followed the US Federal Reserve’s decision to cut interest rates by 25 basis points, prompting traders to increase buying positions and reinforcing the bullish trend, with silver price advancing for the third consecutive session.

Declining yields on 10-year US Treasuries, alongside a softer US dollar index, helped fuel demand, as silver price typically benefits from lower yields and a weaker greenback.

Strong Technical Momentum Despite Overbought Signals

From a technical perspective, indicators show silver holding above key support levels, even as the daily relative strength index signals overbought conditions, highlighting the strength of the prevailing uptrend.

Market Outlook Ahead

Analysts suggest that continued dollar weakness and supportive monetary expectations could push prices toward higher resistance levels, increasing the likelihood of testing new record highs if current fundamentals persist.