Silver has reached “extreme oversold” territory as its price continues to trend lower.
Silver is currently trading at $64.62 U.S. per ounce on June 10, having declined 24% in the past month alone.
So far in 2026, silver’s price has been nearly cut in half after peaking at $121.58 U.S. an ounce in January.
Now, market data shows that silver is sitting deep in oversold territory with a relative strength indicator (RSI) of 22.
The technical indicator suggests that the selloff in the grey coloured industrial metal has been overdone.
An RSI reading of 22.39 is extreme, say analysts, with some adding that a bottom in the price might soon be reached.
Silver has sold off sharply in recent months, falling alongside gold as expectations rise for interest rate hikes later this year.
As non-yielding assets, metals such as silver and gold perform better when interest rates are low.
