Silver (XAG/USD) has experienced significant liquidation pressure, dropping to $68 amid a hawkish Federal Reserve outlook that has bolstered the dollar. This marks a sharp decline from its recent high of $95 just two weeks ago. The metal's price has fallen nearly 50% from its all-time high, with a 10% drop over the past week alone, as market participants react to rising interest rate expectations and leveraged account liquidations.
The current price action suggests a critical test of support at $65, with potential further declines if this level is breached. Analysts warn that technical selling could drive prices down to $63 or even $50. Despite long-term demand from the solar and EV sectors, the short-term outlook remains unstable. Meanwhile, speculative capital is shifting towards high-variance assets like Maxi Doge, a meme coin that has raised over $4.6 million in its presale phase, offering high staking rewards and trading competitions.
Silver Prices Plunge Amid Fed's Hawkish Stance, Trading at $68
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