Silver prices trade near two-month lows at $60.70 as a resilient US Dollar and surging Treasury yields continue to pressure the precious metal's short-term outlook.
Silver is currently facing downward pressure, trading near $60.70 per troy ounce, which marks a level close to two-month lows. The asset is struggling to maintain gains as the strength of the US Dollar and rising Treasury yields act as significant headwinds, effectively neutralizing other supportive economic factors.
Silver is trading around $60.70, remaining near two-month lows.
The US Dollar is exhibiting resilience in the current market environment, which is directly contributing to the decline in silver prices. This strength is underpinned by surging Treasury yields, which enhance the attractiveness of the currency and exert pressure on non-yielding assets like precious metals.
The resilient USD is acting as a primary headwind for silver, pushing prices toward two-month lows.
Silver prices retreated to $60.70 per troy ounce during Tuesday's Asian trading session, hovering near two-month lows. The precious metal faces persistent downward pressure as a strengthening US Dollar and climbing Treasury yields dampen investor appetite for non-yielding assets.
Silver is declining primarily due to a resilient US Dollar and surging Treasury yields, which make non-yielding assets like silver less attractive to investors.