Silver prices rose early Tuesday, piercing the 50-day Exponential Moving Average (EMA). This move suggests buyers may soon target the $80 level.
The metal has seen declines in recent months after a period of strong performance. Traders are closely watching U.S. interest rates, with the 10-year Treasury yield hovering near 4.3%.
Lower interest rates could support silver prices, as the metal often moves opposite to bond yields. Many traders see current levels as a potential buying opportunity.
The $80 mark represents a significant psychological level. A sustained move above $80 would signal a bullish trend, potentially opening the path to $90. Short-term pullbacks could find support near the $70 level.