Silver Price Faces Resistance Near $61.90, Pulls Back but Holds Above Key Range

Silver (XAG/USD) recently encountered resistance around the $61.90 level before retreating to $61.24, according to FX Street. Despite this pullback, the price remains above $60.90, which marks the top of the last four weeks' trading range.

This movement suggests that while silver is facing short-term selling pressure near $61.90, it retains underlying strength by staying above the recent range's upper boundary. Traders may watch closely to see if silver can break through this resistance or consolidate further.

For Japanese investors, who often view precious metals as a safe haven amid market volatility, this price action in silver could influence portfolio adjustments, especially amid fluctuating global FX and equity markets.