Silver prices extended their downward movement on Monday, trading below a critical neckline resistance level in the $64.10 to $64.20 range. According to FX Street, the XAG/USD pair slipped to $63.60, marking a decline of over 1.50% as it struggled to break above this resistance zone.
This renewed weakness in silver suggests that bearish momentum is still prevailing, with the metal unable to reclaim key technical levels that could signal a reversal. The inability to surpass the neckline resistance keeps silver vulnerable to further declines in the near term.
For Japanese investors, the movement in silver prices is notable given the metal’s role as a safe-haven asset amid ongoing global economic uncertainties and the yen’s sensitivity to shifts in commodity markets.