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Silver price declines as failed US-Iran talks lift Dollar, Oil-fueled inflation worries

Silver (XAG/USD) trades around $74.10 on Monday at the time of writing, down 2.23% on the day after briefly dropping to an intraday low near $72.61. The white metal is attempting to stabilize its losses but remains under pressure as the US Dollar (USD) strengthens amid rising geopolitical tensions.

🔗 Source

💡 DMK Insight

Silver’s recent drop to around $74.10 is a wake-up call for traders: geopolitical tensions are driving the USD higher, which typically pressures precious metals. The 2.23% decline today, with an intraday low of $72.61, suggests that silver is struggling to find support. Traders should keep an eye on the USD’s strength, as a continued rally could push silver lower. If the USD maintains its upward trajectory, we might see silver testing key support levels around $72.00. On the flip side, if geopolitical tensions escalate, silver could see a rebound as a safe-haven asset. Watch for any news that could shift market sentiment, as that could create volatility in both silver and the broader commodities market.

📮 Takeaway

Monitor silver closely; a break below $72.00 could signal further downside, while geopolitical developments might provide a bullish reversal opportunity.

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