Silver forecast to test $60 support as hawkish Federal Reserve bets pressure precious metals
Silver is forecast to see downside pressure toward $60 per ounce as traders price in hawkish Federal Reserve policy expectations. Analysts warn the metal must defend that level to avoid a deeper selloff toward lower support zones.
Silver fell below $60 per troy ounce as market expectations of a hawkish Federal Reserve stance strengthened the dollar and pressured precious metals valuations [1]. The move marks a fresh downside leg for the metal, which had traded above that threshold in recent sessions.
Analysts note that silver must defend the $60 level to avoid a deeper move toward lower buy zones, with the next technical support bands below that price [2]. The metal faces bearish pressure unless it can reclaim $72, a level that would signal a shift in near-term momentum [2]. Gold, trading in tandem, would need to break above $4,500 to remove similar downside risk [2].
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