On July 8, 2026 (GMT-5), XAG/USD suffered a sharp single-day decline with wild intraday swings, losing all prior consolidation support amid sustained Fed hawkish pressure, trading between an intraday high of $57.18 and a trough of $55.24, opening at $57.29 and closing around $55.67 with a steep daily drop of roughly 2.81%. Firm U.S. dollar advances and climbing Treasury yields kept lifting the carrying cost of zero-yield silver, while fully subsided Middle East geopolitical risks eliminated all safe-haven buying support. Pessimistic industrial metal demand outlooks triggered heavy institutional long liquidation, creating consistent heavy selling pressure across price tiers. Minor technical bargain hunting emerged at deep lows to slow the slide temporarily, yet the weak buying force failed to reverse the strong bearish momentum, pushing silver to break below key short-term support and cement a renewed downward trend.Bearish outlook for the market tomorrow; target level: 56.70.

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