📝 Executive Summary
Silver prices dropped to a two-month low of $58.50 during Thursday's European session. The decline follows renewed upward momentum in US bond yields, which were bolstered by a recovery in global oil prices.
Bearish
🤖 60%
Silver prices are under significant downward pressure, reaching a two-month low of $58.50 due to the inverse relationship between precious metals and US bond yields. The article highlights that rising US bond yields, fueled by recovery signs in oil prices, are driving investors away from non-yielding assets like silver.
Catalysts
- ▼ Rising US bond yields
- ▼ Recovery signs in oil prices
Risk Factors
- ▲ Continued strength in US bond yields
- ▲ Further appreciation in oil prices
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What is the current price trend for Silver?
Silver is currently in a downtrend, having hit a fresh two-month low of $58.50.
Why is the price of silver falling?
The price is falling primarily due to rising US bond yields, which are being supported by recovery signs in the oil market.