Silver Price Forecasts: XAG/USD pars losses but remains trading in range - www.tmgm.com

AI desk brief

Silver (XAG/USD) rebounded above $61.30 after touching two-month lows near $59.70, helped by a modest pullback in US Treasury yields after softer-than-expected US payrolls and an unemployment-rate rise that strengthened expectations for a Fed pause in October. The bounce remains corrective for now: price is still capped below $62.40, which the article flags as key resistance and the neckline of an extended head-and-shoulders pattern.

A clean break above $62.40 would open the September 25 high just above $65.00, then $68.00; failure to clear resistance leaves downside levels at $59.69 and then the late-August/early-September lows around $56.60 in view. The article also notes that high oil prices and broader bond-market stress could keep inflation and yield pressure contained but still limit silver upside.