**BREAKING: Silver Plunges Over 3.5% as Middle East Tensions Whipsaw Markets**
Silver prices are crashing Tuesday, dropping more than 3.5% to approximately $65.50 per ounce as volatile Middle East war headlines trigger heavy selling pressure across precious metals markets. The XAG/USD pair has hit its lowest level since March 23, with bearish momentum building as traders reassess safe-haven positioning amid conflicting geopolitical signals from the region.
The sharp decline marks a significant reversal for the white metal, which had previously benefited from war-driven demand. Market technicians are now eyeing the $60 level as the next downside target if selling accelerates. The move lower is affecting commodity traders, precious metals dealers, and portfolio managers who had positioned for continued upside in safe-haven assets.
Trading volumes have spiked as the selloff intensifies, with brokers reporting increased client activity in silver futures and spot markets. The rapid price swings underscore how headline-sensitive precious metals remain during the ongoing Middle East conflict.
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FXnCO Insight
** Traders should monitor the $60 support level closely and consider tightening stop-losses on long silver positions as bearish technical momentum accelerates.
Source: FXStreet