Silver Slides Below $59 on Renewed Hormuz Tensions
XAG/USD fell during Asian hours on Monday as fresh military clashes between the US and Iran in the Strait of Hormuz drove oil higher, fueling risk aversion. The metal traded around $58.80, reversing two days of gains.
XAGUSD
Silver (XAG/USD) declined during Monday's Asian session, dropping to around $58.80 per troy ounce after two consecutive days of gains.
The renewed escalation between the US and Iran in the Strait of Hormuz pushed crude oil prices higher and triggered fresh risk-off sentiment, weighing on the white metal.
The spot price remains below the $59.00 threshold as geopolitical uncertainty keeps traders cautious.
Source: FXStreet Forex News