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Silver price jumps on weaker dollar, eyes return to $121 record high

Global silver (XAG) prices have risen by about 3 percent on a weaker dollar and a break above a key technical resistance area, drawing attention to whether they can retake the record-high $121 level last seen in January. Analysts link the rebound to a falling U.S. dollar index and fast short-covering in futures. Technically, silver is around $79, above $78 resistance. A break above $90 could open $99 and then $121, while a drop below $78 risks $60 to $64.