Silver Price Dives Over 3.8% as Dollar Strengthens, Eyes $55 Support
Silver fell more than 3.8% on Thursday as a stronger US dollar and risk aversion weighed on precious metals. XAG/USD traded at $57.62 after hitting a weekly high earlier.
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Silver experienced a sharp decline of over 3.80% on Thursday, dragged down by a robust US dollar and heightened risk aversion amid escalating tensions in the Middle East.
The XAG/USD pair traded at $57.62 after touching a weekly high earlier in the session. Technical analysts note that the lower highs structure remains intact, with bears now targeting the $55 level as the next downside objective.
Source: FXStreet Forex News