XAG/USD falls as rising oil supply concerns revive inflation and high interest rate worries, pressuring precious metals.
Silver prices extended losses for a third consecutive session, trading near $64.50 per troy ounce during European trading hours. The decline follows fading optimism over US-Iran tensions, which had previously supported market sentiment.
The metal remains under pressure as concerns over persistent inflation and elevated interest rates resurface. Rising oil supply risks have amplified these worries, dampening demand for non-yielding assets like silver. Earlier in the week, prices hovered around $64.70 before slipping further.
No immediate market reaction was specified, but the trend reflects broader macroeconomic uncertainties weighing on commodities.