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Silver edges higher near $61.38 as US Treasury yields pause
10-year US Treasury yields pulled back toward 5.25% from recent highs near 5.34%, supporting demand for non-yielding assets like silver.
Silver prices for XAG/USD rose 0.55% to around $61.38 during late Asian trading on Friday, according to FXStreet.
The metal moved higher as the recent rally in US Treasury yields showed signs of pausing, with 10-year yields correcting to about 5.25% from recent highs near 5.34%.
FXStreet also linked the pickup to improved very-short term appeal for non-yielding assets, even as the broader trend in US bond yields remained firm amid Federal Reserve officials’ signals of additional rate hikes.
The report cited a hawkish message from Fed official Logan, noting a 9.2 out of 10 score on the FXS Speechtracker, alongside ongoing debate over whether higher yields reflect term premiums or signals for further tightening.
Latest closeSilver $59.48 ▼0.7%