Silver prices pull back to $60.70 per troy ounce as traders consolidate gains following a 2.5% rally sparked by geopolitical instability in the Middle East.
Silver prices are experiencing a corrective pullback after a significant 2.5% rally in the previous session. The current price action around $60.70 reflects a cooling of market sentiment following the volatility induced by geopolitical tensions near Riyadh's airport.
Silver is currently trading around $60.70 per troy ounce, showing a slight decline after a 2.5% gain in the previous session.
Silver prices retreated to $60.70 per troy ounce during Monday's European session, paring gains from a 2.5% surge in the previous trading day. The pullback follows a period of volatility triggered by recent attacks on Riyadh's airport, which initially drove safe-haven demand for the precious metal.
Silver prices rallied over 2.5% in the previous session due to heightened geopolitical tensions following attacks on Riyadh's airport.