Silver price has broken out of a range that kept the metal contained for more than 1 week, and the timing has made the move especially interesting. Gold and silver have also added a combined $1.3 trillion in market value following a US Treasury announcement, based on figures shared by The Kobeissi Letter.
Silver climbed from around $62.5 to nearly $67 during yesterday’s breakout. Price action today is already testing the former resistance area as support, which leaves silver at an important point. Holding this area could open the door toward $71 and potentially $78, but losing it could send the metal back into its previous range.
The Kobeissi Letter reported that gold and silver added a combined $1.3 trillion in market capitalization after the US Treasury announcement on Thursday morning.
The market commentary from The Kobeissi Letter focused heavily on US yields and the financial pressure facing the government. The analyst argued that the Federal Reserve can no longer contain yields and that the US government cannot afford substantially higher yields.
The Kobeissi Letter ended the post with a strong assessment that “asset owners will be the only winners.”
Gold and silver added a combined +$1.3 trillion in market cap after the US Treasury's announcement this morning.
— The Kobeissi Letter (@KobeissiLetter) August 19, 2026
The Fed can no longer contain yields and the US government cannot afford higher yields.
Asset owners will be the only winners. https://t.co/SLNs0Mgr6b pic.twitter.com/x6Alhhtg4L
That view puts the latest gold and silver price moves into a broader macroeconomic context. Precious metals often become more relevant when questions surrounding government debt, yields, inflation and monetary policy become more pressing.
Silver has also produced its own technical breakout at almost the same time. That combination makes the next few sessions particularly important for the silver price outlook.
What you'll learn 👉
Silver Price Breakout Puts $71 Back Into Focus
Silver price spent much of the period since Monday, August 10, trading between roughly $62 and $66. Buyers repeatedly pushed toward the upper end of that range, but the $66 area continued to limit further upside.
Yesterday finally changed that structure.
Silver moved from a low around $62.5 and pushed toward $67, which carried the price above the resistance that had controlled the market for more than 1 week.
Price action today has returned toward the breakout area. A look at the silver chart shows the former resistance is now being tested as possible support.
That retest matters because a successful defense of the $66 area could give buyers another opportunity to push higher. Silver would then have room to challenge approximately $71 during the next few days.
The $71 area becomes the next major test under that scenario. A clear break above $71 could create room for silver price to move toward $78.
Failure to hold the breakout would change the short term picture. Silver could return to the previous $62 to $66 consolidation range and remain there until either buyers or sellers establish stronger control.
Greater downside pressure would put $62 back under examination. Losing $62 could expose the $60 area during the coming days.
Silver Price Prediction Scenarios Put $71 And $78 On The Radar
Several possible silver price prediction scenarios now stand out from the current chart structure:
- Bullish scenario: Silver holds the broken $66 resistance as support and rebounds toward $71 over the next few days.
- Extended bullish scenario: Silver breaks clearly above $71 and opens a possible path toward the next target around $78.
- Consolidation scenario: Silver fails to maintain the breakout and returns to its previous range between $62 and $66.
- Bearish scenario: Selling pressure pushes silver below $62, which could bring the $60 support area back into focus.
The immediate battle around $66 could therefore provide useful information about which scenario becomes more likely.
Daily Silver Indicators Remain Positive After The Breakout
Technical indicators on the daily silver chart also lean toward continued strength, although several readings are already relatively elevated.
RSI(14) stands at 65.111. That reading remains below the traditional 70 overbought threshold, so silver still has some room before RSI enters territory commonly associated with an overheated market.
The Stochastic reading of 71.319 also shows strong upside pressure. Its elevated position deserves attention because a continued rise could eventually place the indicator closer to overbought territory.
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MACD(12,26) stands at 91.17 and remains positive. The reading supports the current upside structure and fits with the recent breakout from the $62 to $66 consolidation zone.
CCI(14) has reached 118.8479. A CCI reading above 100 generally points to strong upside price pressure, although elevated readings can also mean the move has already travelled a considerable distance.
The Ultimate Oscillator stands at 56.38. A reading above 50 provides another positive technical clue without reaching an extreme level.
| Name | Value | Action |
|---|---|---|
| RSI(14) | 65.111 | Positive, but nearing overbought territory |
| STOCH(9,6) | 71.319 | Strong upside pressure, with an elevated reading |
| MACD(12,26) | 91.17 | Positive reading supports the current breakout |
| CCI(14) | 118.8479 | Strong upside pressure above the 100 level |
| Ultimate Oscillator | 56.38 | Positive reading remains above the midpoint |
Taken together, these indicators support the recent silver price breakout, but they also make the current support test important. Several readings are already elevated enough that buyers may need to defend the breakout quickly.
Silver has moved beyond the $62 to $66 range that controlled price action for more than 1 week, but the breakout still needs confirmation.
Holding around $66 could turn yesterday’s breakout into a base for another move toward $71. Breaking $71 would then bring the $78 target into view.
Losing the current support area could produce a very different outcome. Silver may return to consolidation between $62 and $66, and heavier selling could eventually expose $60.
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