Silver Holds $60.83 Support as Dollar Index Tops 100
Silver came under pressure last week as the U.S. Dollar Index rose above 100, leaving traders focused on whether XAG/USD can hold its $60.83 support level amid currency headwinds.
Silver prices came under pressure last week as dollar strength crushed demand for the precious metal, with traders now watching whether XAG/USD can hold above the $60.83 technical support level. The U.S. Dollar Index (DXY) rose above 100, creating currency headwinds that weighed on silver's appeal.
The dollar's advance above the psychologically significant 100 mark on the DXY reversed the prior week's silver momentum. Currency dynamics matter for silver because a stronger dollar makes dollar-denominated commodities more expensive for holders of other currencies, typically reducing global demand. The $60.83 level represents a key technical threshold that traders are monitoring for signs of further downside or stabilization.
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