Silver Price Faces Resistance at $80 Amid Rate Concerns

Silver prices rose early Tuesday, then met resistance at the $80 level. The precious metal has since pulled back from this price point. The market continues to hold within its established trading range.

Rising interest rates weigh on silver. As a non-yielding asset, higher rates make silver less attractive. Many asset managers prefer the strong yield from bonds over silver’s price volatility.

Concerns about energy inflation globally also make bonds more appealing. The $70 level remains a significant support for silver buyers, who watch it for signs of renewed interest.

Silver trades near its 50-day Exponential Moving Average. A break above $80 could open a path to the $90 level. This would require relief in the 10-year yield and broader bond markets.