Silver Price Drops Amid Bearish Pressure
The silver price has dropped by 1.63% to $62.86 after opening with a moderate gap and closing near its session low.
According to Traders Union, Silver (XAG) is trading below key moving averages on multiple timeframes, indicating persistent downward pressure from sellers.
Momentum indicators such as MACD, ADX, and oscillators point to a strong sell bias and oversold conditions.