Silver prices fell on Thursday. This occurred despite a drop in U.S. interest rates. The move represents a shift in market behavior.
The silver market started the day positive. However, the $70 level offered strong resistance. The simultaneous drop in silver and interest rates may suggest inflation has peaked.
Traders see strong support at the $60 level. A break below this point would signal a very negative turn. An unfilled gap from last Friday could also send prices to $64.
U.S. markets are heading into a three-day weekend for Juneteenth. Main liquidity will be absent on Friday. Some traders may be selling to secure gains before the holiday, helping avoid potential losses over the long weekend.