Silver prices plunged Monday as global risk-off sentiment hammered precious metals. COMEX silver opened sharply lower, holding above the $64 support but trading in the $62-$70 range after retreating from earlier highs near $93-$97. The formation of lower highs and lower lows signals continued bearish momentum. On MCX, silver traded within the ₹2,12,000-₹2,14,000 support zone, down from previous highs of ₹2,20,000-₹2,30,000. The broader selloff reflects simultaneous weakness across equities, bonds, and precious metals, with safe-haven assets experiencing sharper corrections than equity markets. A stronger US dollar and macro uncertainty continue suppressing recovery attempts. Critical support lies at $64-$65 on COMEX, with a breakdown potentially dragging prices toward $57-$59. Upside resistance stands at $70, with a breakout needed to trigger recovery toward $72-$74.
