📝 Executive Summary
Silver prices retreated on Friday, shedding 0.76% to trade at $60.50. The decline follows a rise in US Treasury yields, which offset the impact of a weakening US Dollar after a soft domestic jobs report.
Bearish
🤖 60%
Silver prices are facing downward pressure as rising US Treasury yields counteract the weakness in the US Dollar. Despite the Greenback's decline following a soft US jobs report, the upward movement in yields has capped potential gains, leading to a 0.76% retreat in the asset to $60.50.
Catalysts
- ▼ Soft US jobs report weakening the US Dollar
- ▼ Increased investor caution following a six-percent weekly rout
Risk Factors
- ▲ Rising US Treasury yields exerting downward pressure on precious metals
- ▲ Potential for further bearish momentum targeting the $60 support level
▼ Show FAQ (2) ▲ Hide FAQ
What is the current price of XAG/USD?
The asset is trading at $60.50.
What is driving the current retreat in silver prices?
The retreat is primarily driven by rising US Treasury yields, which are offsetting the impact of a weaker US Dollar.