09:35 · 7 May 2026

Silver surges 3% 📈Precious metals bull market momentum is back?

Silver is gaining more than 3% and approaching the $80 per ounce level. Since the local low near $62 per ounce, the price has already climbed more than 25%, supported by a weaker US dollar, falling Treasury yields, and solid global industrial data. Silver is also breaking above the EMA50 (orange line) for the first time since April 17.

Source: xStation5

Looking at silver on the hourly timeframe, the chart shows a triangle formation, where the base scenario points toward an upside breakout. Such a move may already be unfolding, although the $80 area could still act as an important resistance zone, similarly to the $82–83 range, where the latest local peak is located.

Source: xStation5

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