Silver price drops to $22.43, approaching key technical support that may indicate a nearing bottom.
Technical analysis points to a potential decline toward yearly lows if prices fall decisively below $22, showcasing bearish trends.
A rebound above $23.00 might steer silver towards challenging the $23.30 resistance level, giving bulls an opportunity for recovery.
Silver price falls to an eight-day low of $22.43, though it appears to have bottomed out at around the $22.40-50 area. The advance of US Treasury bond yields capped the nonyielding metal, with XAG/USD trading at $22.49, down 0.04%.
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