XAG/USD climbs over 1% to near $59.00 amid broad US Dollar selling pressure in early European trade.
Silver prices surged over 1% to near $59.00 during Thursday’s European session, driven by a decline in the US Dollar. The move reflects broader weakness in the USD, which has faced selling pressure despite recent economic data releases.
Prior to this gain, XAG/USD had traded in a narrower range, with the metal struggling to break above key resistance levels. The latest uptick aligns with a modest rebound in precious metals, though silver remains below its recent highs.
Market reaction has been muted, with traders awaiting further cues on US monetary policy and economic indicators.