XAG/USD falls to $72.30, its weakest level since May 6, amid geopolitical risks and technical selling pressure.
Silver prices extended losses to $72.30 per ounce, the lowest since May 6, during early European trading on Thursday. The decline follows escalating tensions after US strikes in Iran, which heightened risk aversion and weighed on precious metals.
Prior to the drop, XAG/USD had traded near $72.50, with technical indicators signaling further downside. The metal has struggled to regain momentum amid a stronger USD and shifting investor sentiment toward safe-haven assets.
No immediate market reaction data was provided, but the move reflects broader concerns over geopolitical instability and its impact on commodity markets.