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fxJul 8, 2026, 5:47 PM

Silver Price Falls Nearly 2.5%, Eyes $55 Support

Silver (XAG/USD) tumbled almost 2.5% on Wednesday as risk aversion drove demand for the US dollar, pressuring precious metals. The metal is now eyeing the $55 level after extending its lower low sequence.

XAGUSD

Silver extended its downtrend on Wednesday, falling nearly 2.50% as traders flocked to the US dollar amid a broad risk-off move. The precious metal was last seen trading at $58.41, down from open levels around $59.90.

The selloff marks a continuation of the lower low sequence, with chartists now watching the $55 area as the next potential support zone. The dollar's strength has been a key headwind for silver, as a stronger greenback makes dollar-denominated metals more expensive for international buyers.

Market participants are likely to monitor upcoming US economic data and Federal Reserve commentary for further direction. A break below $55 could open the door for deeper losses, while any reversal in dollar strength may provide relief for silver bulls.

Source: FXStreet Forex News