The commodity is at its lowest levels since April 2016.
Silver was under pressure last week before experiencing a flash crash on Friday that sent the price down 7% before recovering most of those losses. It resumed its downward trend after the flash crash.
Silver’s eight-day slide has led to a drop of 5.3%. The white metal is down about 5.1% so far in 2017.
Gold has been on a similar decline, falling in each of the last eight days. The commodity is down 2.51% over the last week and is currently trading around $US1210.30.
Get the latest Gold price here.