Silver prices (XAG USD) experienced a sharp decline, falling to near 32 50 in Thursday’s European session. This downturn follows the white metal’s inability to maintain its 10-day rally above the crucial resistance level of 33 00. The recent rally was cut short as the US Dollar continues to gain ground near its recent lows, driving down precious metal prices.

The movement in silver prices illustrates the ongoing challenges in the commodities market, where strong dollar performance often correlates with reduced demand for non-yielding assets. Traders should closely monitor the relationship between the dollar’s strength and silver’s price action, as it could signal future trends.

In conclusion, silver’s recent price activity reflects broader economic sentiments, and market participants should remain vigilant for shifts that could impact this dynamic. Future movements will depend heavily on dollar performance and geopolitical developments as traders assess their strategies.