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Silver slips as US yields rise and the dollar strengthens
Silver was last around $60.75 per ounce, down 0.38% on the day, as the benchmark 10-year US Treasury yield climbed to 5.28%, its highest level since 2007.
Silver prices retreated on Tuesday, trading around $60.75 per ounce and down 0.38% on the day, as FXStreet reported the move was tied to a stronger US dollar and sharply higher US Treasury yields.
The outlet said the benchmark 10-year Treasury yield rose to 5.28%, its highest level since 2007, pressuring silver.
FXStreet also pointed to persistent geopolitical tensions around the Strait of Hormuz keeping oil elevated, which is reviving inflation concerns and supporting expectations that the Federal Reserve could stay restrictive.
On the geopolitical front, the report said Iran's foreign minister, Abbas Araghchi, stated Tehran is holding indirect talks with the United States via Qatari mediators in New York, while President Donald Trump denied any offer of sanctions relief or access to frozen funds.
Latest closeSilver $60.95 ▼5.1%