Silver Drops 8.5% in Three Sessions as Inflation Fuels Selling
US inflation above expectations added pressure on silver, while traders watched $55 support and a modest futures rebound on Thursday.
Key takeaways
- Silver lost 8.5% over three sessions after US inflation exceeded expectations.
- December silver futures were up 1.49% at $56.71 as of 09:01 UTC.
- Technical levels cited in the report include $55 support and resistance at $58 and $62.
Silver fell 8.5% over three sessions, nearing its lowest levels of the year, after US annual inflation came in above expectations at 3.7%. Rising bond yields, reported at 5.2%, and a dollar index above 102 added to the selling pressure.
December 2026 silver futures traded at $56.71, up 1.49% since the previous close, as of 09:01 UTC on Thursday.
The report identified $55 as a key support level, with resistance at $58 and $62. It said the MACD was below zero and the RSI below 50, while the RSI’s approach toward 30 could leave room for a short-term rebound.
Analyst forecasts varied: Citigroup projected $90 an ounce in six to 12 months and $110 longer term, while UBS forecast $80 by September 2027. JPMorgan estimated a 2026 average of $70.60.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
