Silver Tests $55 Support as Dollar Recovery Pressures XAG/USD
Silver extends losses on Thursday as the US dollar rebounds and Treasury yields stabilize after softer inflation data, with XAG/USD falling 3.5% to trade near $55.75.
XAGUSD
Silver (XAG/USD) continues its downward move on Thursday, pressured by a recovering US dollar and stabilizing Treasury yields. The greenback bounces back following a two-day drop triggered by softer-than-expected US inflation data, while yields steady after previous declines.
At the time of writing, XAG/USD is trading around $55.75, down 3.50% on the day. Sellers retain control as the pair tests the $55 floor, a key near-term support level. A break below could open the door to further losses.
Source: FXStreet Forex News