Silver Price Forecast: XAG/USD extends recovery above $67.00 as yields fall

Silver (XAG/USD) has continued its recovery, breaking above $67.00 for the second consecutive day on Friday, reaching session highs. This uptrend was driven by a reversal in US Treasury yields, which offset the negative impact of the Federal Reserve's hawkish decision to raise interest rates. The yield on the 10-year bond dropped below the critical 5% level, providing a fresh impulse to the yieldless precious metals.

XAG/USD has bounced from the $62.00 support area and is now heading towards resistance near $68.00, which could propel the metal towards mid-June and late-August highs. However, bullish attempts remain mixed, with indicators like the Relative Strength Index and MACD suggesting that the rally lacks follow-through.

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