Silver Price Drops Nearly 4%, Targets $55.00 as Downtrend Accelerates

Silver prices accelerated their decline on Monday, dropping nearly 4% and settling below the $60.00 mark. The sell-off was driven by heightened geopolitical tensions in the Middle East, which stoked inflation expectations and dampened risk appetite for precious metals.

The precious metal now faces a potential further slide toward the $55.00 level, according to market forecasts. The downtrend has gained momentum as investors weigh the impact of inflationary pressures on global demand and monetary policy expectations.

Traders are closely watching for any signs of stabilization, but the near-term outlook remains bearish as long as prices hold below $60.00.