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Commodities

Silver Prices Plummet Towards $61.00 as Bearish Momentum Intensifies

Guavy AI Editorial Team
Instruments
Silver
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Silver prices have been under intense pressure in recent days, with the metal plummeting towards its critical 200-day Simple Moving Average (SMA) at $60.80.

The sell-off accelerated after silver broke below the key support level of $63.00, triggering stop-loss orders and attracting fresh short positions.

A decisive break below the 200-day SMA would open the door for a deeper correction towards the $58.00 area, where the 100-day SMA resides.

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