Silver (XAG/USD) extended its decline for a second straight day, trading around $56.80 per troy ounce during European hours on Thursday, according to FX Street. The price remains under pressure as it hovers just above the nine-day exponential moving average (EMA), reflecting ongoing bearish momentum.
Earlier in the session, silver dipped close to $56.50, signaling a cautious market sentiment among investors amid fluctuating demand and broader market trends. The continuation of losses suggests traders are weighing economic factors that could impact precious metals in the near term.
For Japanese investors, silver's recent performance underscores the importance of monitoring global commodity trends as currency fluctuations and risk appetite shifts continue to influence FX and commodity markets domestically.