Silver faced downward pressure on Thursday as traders took a break from the momentum trade. The precious metal has shown strength in recent sessions but encountered some resistance as investors paused to reassess market conditions.
Additional insight: The price of silver is often influenced by a variety of factors including global economic conditions, geopolitical tensions, and changes in investor sentiment. Traders may have decided to lock in profits or wait for clearer signals before making further moves in the market. It will be important to monitor developments in the coming days to see if silver resumes its upward trajectory or if it continues to face challenges.