Silver Price Forecast: XAG/USD Drops Near $30 as Traders Reevaluate

Silver Price Forecast: XAG/USD Drops Near $30 Amid Strengthening US Bond Yields

Silver (XAG/USD) experienced a sharp decline to approximately $30.00 during Monday’s European session after failing to break past the critical resistance level of $30.60. The precious metal came under pressure as rising US bond yields dampened its appeal. This shift follows the release of the United States Nonfarm Payrolls (NFP) data for December, prompting traders to reassess their expectations for the Federal Reserve’s upcoming monetary policy decisions.

Stay tuned for further updates on silver price movements and insights into market trends!