Silver Retreats as Stronger Dollar Weighs on Prices

Silver prices retreated on Monday, falling back from their one-week high of $67.34 an ounce as the US dollar rose against a basket of global currencies.

The US Dollar Index gained more than 0.1% in European trading, resuming its upward trend after pausing for two sessions. This strength is partly due to renewed demand for the US currency as the most attractive investment amid the Federal Reserve's hawkish stance and increasing geopolitical tensions in the Middle East.

The stronger dollar pressured silver prices downward, causing them to fall 0.8% to $65.73 an ounce by the end of trading on Monday. This decline marks the first loss for silver in three days.