Silver Prices Rise as Interest Rates Decline

Silver prices rose on Monday as interest rates declined, offering relief to the non-yielding asset. The metal gapped higher to start the trading session. It now trades around the psychologically important $60 level.

A “death cross” recently formed, with the 50-day exponential moving average (EMA) falling below the 200-day EMA. Many long-term traders view this technical signal as bearish.

Silver recently tested the $55 level for support and bounced back. Chart patterns show a series of lower highs and lower lows, though prices have stabilized.

News from the Middle East continues to influence commodity markets. This market is expected to remain volatile due to erratic headlines affecting inflation.