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Silver rises toward $67 as the US dollar and yields slide
Silver traded around $66.97 after 10-year Treasury yields fell to about 4.77%, with investors bracing for upcoming US CPI data.
Silver prices rose about 1.3% to around $67.0 during Asian trading on Tuesday, according to FXStreet. The pickup came as the US dollar and US Treasury yields came under pressure.
The US Dollar Index, which gauges the greenback against six major currencies, was seen about 0.1% lower near 98.83, while 10-year Treasury yields fell roughly 0.17% to around 4.77%. FXStreet said lower yields improved the appeal of silver, a non-yielding asset.
Market focus is shifting to US inflation data, with the August CPI release scheduled for Friday, and the August Producer Price Index set for Thursday. FXStreet noted silver was holding above its nine-day EMA near $66.49.
On the technical side, FXStreet reported the daily chart at $66.97 with an RSI around 55, keeping a mildly positive tone without suggesting overbought conditions. It also flagged $71.12, the August high, as a key upside hurdle and said a daily close below $66.49 could signal deeper consolidation.
Latest closeSilver $65.91 ▲2.0%|Dollar index 99.58 ▼0.1%