XAG/USD falls 1% in Asian trade after a four-session rally, pressured by rising bearish sentiment in oil markets.
Silver prices retreated 1% to $61.80 during Monday’s Asian session, paring gains after a four-day winning streak. The decline follows increased bearish bets on oil prices, which analysts say have limited further downside for the metal.
Prior to the drop, XAG/USD had climbed steadily, supported by broader commodity strength and a softer USD. Market consensus had anticipated a pullback, though the extent of the correction remained uncertain.
No immediate market reaction was reported beyond the price movement.