Silver Snaps Back Above $60 as Bullion Finds Footing; Miners in Focus

Silver rebounded 2.8% to about $59.95 an ounce on Friday, reclaiming the $60 level a day after its first break below that mark this year, while gold rose 1% to roughly $4,017 per troy ounce. The recovery came as the 10-year Treasury yield eased to 4.53% and the dollar index slipped below 101, lifting demand for dollar-priced bullion.

Strategists characterized the recent pullback — gold remains down 28% from its January peak — as a healthy correction within a longer bull market, pointing to central bank purchases on pace for roughly 1,000 tonnes this year as a durable price floor near $4,000.

The bounce offers relief to precious metals miners including Hecla Mining and Pan American Silver, which came under pressure this week as silver slid. Some analysts argue the divergence between mining equity valuations and strong fundamentals has created a buying opportunity.