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Silver gives back gains as global yields spike
Silver slid toward $64 after global bond yields hit multi-year highs, with investors weighing renewed inflation concerns and still-watching Fed signals.
Silver has posted one of its strongest runs in years, but the latest move highlights how easily precious metals rebounds can fade when bond markets turn riskier. After July’s Non-Farm Payrolls report missed expectations and showed a loss of 23,000 jobs, markets scaled back expectations for a September Fed hike and safe-haven demand helped silver surge nearly 10% last week.
The momentum reversed on Tuesday, with silver falling toward $64 as global bond yields climbed to multi-year highs. The selloff reflects renewed pressure from concerns about government spending and persistent inflation, even as rate-hike expectations continue to ease, and it also coincided with firmer oil prices.
While price action has been volatile, the outlook described by Action Forex remains supported by longer-term demand tied to the green energy transition, including solar panels, electric vehicles, and AI data centre infrastructure, which it says can help underpin prices. The piece also flags upcoming catalysts, including the Fed’s July meeting minutes and remarks from Chair Kevin Warsh at Jackson Hole, as well as key technical levels around the 0.382 Fibonacci retracement near 62.88 and the nearby 200-period EMA around 62.27.
Latest closeSilver $64.83 ▼0.1%