Silver prices have reclaimed the $60.00 level for the second consecutive day, reaching an eight-day peak as the US Dollar weakened. According to FX Street, silver extended its weekly gains to over 5.50%, trading at $62.42 on Friday and hitting an eight-day high of $62.89.
The precious metal's recent strength comes amid a softer US Dollar, which often boosts demand for dollar-priced assets like silver. This upward momentum has helped silver maintain its position above the psychologically important $60 threshold, signaling renewed investor interest in the metal.
For Japanese markets, where exporters and importers closely monitor currency and commodity movements, silver’s rally alongside the weakening dollar could influence hedging strategies and commodity-linked equities in the weeks ahead.