Spot silver prices fell 4.64% last week, settling at $64.88. The metal dropped $3.16 after trading between $71.56 and $63.29. A stronger U.S. dollar and rising Treasury yields pressured prices.
The U.S. Dollar Index gained 0.96%, closing at 100.760. This pushed the dollar above the 100 level, making silver more costly for international buyers. The 2-year Treasury yield also climbed 2.25% to 4.179%.
Attractive U.S. interest rates drew capital into dollar assets and Treasuries. This reduced physical buying from major importers in India, China, and Europe. Speculative traders also cut their positions, contributing to the nearly five percent decline.
Downside targets for silver cluster around $61.50, $61.00, and $60.83. A trade below the key long-term bottom at $59.34 could trigger further losses. If buyers emerge, the 200-day moving average at $68.96 is the first upside test. The 50-day moving average at $74.89 remains the main resistance.