XAG/USD falls for a second day, trading near $58.20 as technical indicators signal continued downward pressure.
Silver prices extended losses on Monday, with XAG/USD declining toward $58.00 per troy ounce amid a prevailing bearish bias. The metal traded around $58.20 during European hours, marking its second consecutive day of declines.
Technical analysis shows the spot price remains within a descending channel pattern, reinforcing the bearish outlook. Prior sessions saw similar downward momentum, with no immediate signs of a reversal in the trend.
Market reaction has been muted, with traders monitoring the technical setup for further direction. The metal’s movement reflects broader sentiment in precious metals markets.