Spot Silver Drops Below Key Support Level
Today, spot silver price sharply declined below $105 per ounce, hitting a recent low with a daily drop of over 9%, drawing widespread market attention.
Market Analysis and Outlook
Multiple analysts have pointed out that the decline in silver prices is influenced by several factors:
- Slowing global economic growth has weakened industrial demand
- A stronger dollar index has pressured precious metals
- Investors are shifting to other asset classes, reducing silver's appeal
In the short term, silver prices may face further downward pressure.