XAG/USD falls over 1% despite weaker USD and Treasury yields, nearing a weekly low below $60.
Silver prices dropped more than 1% on Monday, trading at $61.80 after peaking near $63.28 earlier in the session. The decline occurred despite a softer US Dollar and lower Treasury yields, signaling renewed selling pressure on the metal.
The retreat marks the first potential break below $60 this week, a level not tested since last week’s close. Analysts noted the move contrasts with recent strength in precious metals, which had been supported by geopolitical risks and rate cut expectations.
Market reaction remained muted, with traders awaiting further cues on Federal Reserve policy and macroeconomic data later this week.