Silver Breaks Below $60, Eyes $55 After Weekly Drop of 10.29%

Silver prices breached the $60.00 threshold on Friday, marking the first time it has traded below that level since the rally that began in early December. The white metal is set to close the week with a loss of approximately 10.29%, despite a nearly 2% uptick on the final trading day of the week.

Market participants are eyeing the next support level at $55, as bearish momentum persists. The sharp weekly decline suggests continued selling pressure, with traders monitoring whether the breakdown below $60 will attract further downside.