Silver prices (XAG/USD) fell by over 1% on Monday, retreating to $61.80 after reaching an intraday peak of $63.28, despite a weaker US Dollar and lower US Treasury yields [1]. The recent four-day rally in silver has stalled, with technical indicators suggesting a downward bias. The Relative Strength Index (RSI) has turned flat and is pointing downwards, indicating that sellers are gaining momentum [1].
If silver drops below the day's low of $61.45, it could challenge last week's low of $56.61, the June 30 daily low. Further downside targets include the June 24 cycle low of $55.63 and the November 13, 2025 daily high turned support at $54.39 [1]. On the upside, a break above the June 22 high of $67.17 could open the path to the 200-day Simple Moving Average at $70.06 and the 50-day SMA at $71.05 [1].
The article notes that the geopolitical risk premium has faded, contributing to the loss of bullish momentum. Additionally, a potential 'death-cross' pattern in the daily chart increases the likelihood of further losses for silver [1].
No specific analyst opinions or forward-looking statements are provided beyond the technical outlook, but the market implication is that sellers are eyeing the $60.00 level as a key support, and further declines are possible if momentum remains negative [1].
CONCLUSION
Silver's recent rally has lost steam, with prices dropping over 1% and technical signals pointing to further downside. Sellers are targeting the $60.00 level, and a break below current support could lead to additional losses. Market sentiment is moderately negative, with medium impact expected as traders watch key technical levels.