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fxJul 9, 2026, 6:58 AM

Silver Price Jumps to Near $59 as US Dollar Declines

Silver price (XAG/USD) rose over 1% to near $59.00 during European trading on Thursday, as the US Dollar faced selling pressure.

XAGUSD

Silver (XAG/USD) rallied more than 1% to approach the $59.00 level during Thursday's European session. The precious metal benefited from a softer US Dollar, which declined amid persistent selling pressure.

The move comes as traders respond to broader FX dynamics, with the greenback weakening across the board. Silver's advance reflects its typical inverse correlation with the dollar.

Further upside could be limited if the dollar stabilizes, but the current momentum remains in favor of the white metal.

Source: FXStreet Forex News