Silver Price Forecast: Silver Eyes $50 After Breaking Below $60
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Key Points:
- Silver may continue lower toward the $40–$50 support zone after breaking below $60.
- A stronger U.S. dollar may keep silver under pressure in the short term.
- A stable bottom near long-term support could prepare silver for a recovery toward $72.
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Silver (XAG) has broken below $60 as rising oil prices, a stronger U.S. dollar and growing expectations for tighter Federal Reserve policy weigh on the market. In my view, silver may continue lower toward the long term support zone between $40 and $50 before forming a stronger base for a recovery toward $72. This article discusses the inflation outlook, industrial demand for China, the U.S. dollar trend and technical levels that may shape the next move in silver.