Gold Holds, Silver Slips As USD Soars

However, the weakness in equities markets and the impact of the Suez supply disruption is taking its toll on silver here, sending price lower. Price is holding at support for now.

But, if the USD is able to properly break out here, silver looks primed for further downside.

Silver Breaks Bullish Channel

(Click on image to enlarge)

silver

The sell-off in silver prices this week has seen price breaking down below the rising channel support line. Price is now sitting on a ledge of support at the 25.45 level.

While this level is currently seeing decent buying, the outlook is skewed to the downside for silver with the 22.25 level the next support to note.

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