Silver prices fell for the third consecutive day, dropping over 2.9% to below , amid a strengthening US Dollar Index (DXY) nearing a four-month high. The decline was driven by a rebound in oil prices despite US President Donald Trump’s temporary 30-day sanctions relief on Russian oil. The US Dollar’s resilience against major currencies intensified pressure on commodities priced in USD, including silver. Meanwhile, the broader market remains sensitive to geopolitical developments and energy price dynamics. The dollar’s strength has significant implications for global commodities, as a stronger USD makes dollar-denominated assets more expensive for holders of other currencies, reducing demand. This dynamic is particularly relevant for silver, which often moves inversely to the dollar. Traders are also monitoring oil markets, where the partial easing of sanctions on Russian exports could influence energy prices and, by extension, industrial metals like silver. Looking ahead, investors should watch for central bank policy shifts, particularly the Federal Reserve’s stance on interest rates, which could further impact the dollar’s trajectory. Additionally, fluctuations in oil prices and geopolitical tensions in key energy-producing regions may continue to drive silver’s volatility. For traders, technical levels around and could become critical support areas to monitor.

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