HG MARKETS: 

Silver prices fell sharply on Thursday, with XAG/USD dropping more than 3.80% as the broader precious metals market came under pressure. The decline was mainly driven by a stronger U.S. Dollar and rising risk aversion as tensions in the Middle East continued to create uncertainty across global markets. Silver was trading around $57.62 after earlier touching a weekly high near $60.94.

Despite recovering slightly from its yearly low of $54.77, silver still appears weak from a technical point of view. The price structure continues to show lower highs and lower lows, which usually signals that sellers remain in control. This means that, unless silver breaks above key resistance levels, the short-term trend may remain under pressure.

Momentum indicators are also supporting the bearish view. The RSI has turned lower toward the neutral 50 level, suggesting that buying strength is fading and sellers are regaining control. If the RSI slips further below neutral territory, it could confirm that bearish momentum is building again.

For the downside move to continue, sellers need to push silver below the July 17 low of $54.77. A clear break below this level could open the way toward the psychological $50.00 mark. If selling pressure extends further, the next important support area would be around $48.64, which was the swing low recorded on November 21, 2025.