XAG/USD drops 3.8% to $57.62 amid broader precious metals selloff driven by a stronger US Dollar and Middle East tensions.
Silver prices fell sharply on Thursday, declining 3.8% to $57.62 as the US Dollar strengthened and risk aversion gripped markets. The drop follows a weekly high of $60.94, with the metal now trading below key resistance levels.
The downtrend remains intact, characterized by lower highs and lows, with technical indicators signaling further bearish momentum. The Relative Strength Index (RSI) has reversed course, moving deeper into bearish territory below the 50-neutral level.
Sellers are targeting a break below the July 17 low of $54.77, which could open the path toward $50 and the November 21, 2025, swing low of $48.64. On the upside, a move above $60.94 would challenge resistance at $63.38 and the 50-day SMA at $65.79.