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Silver slips toward $60.30 as USD strengthens and yields climb

The retreat comes as investors weigh Fed officials' more hawkish tone, which supports Treasury yields and the dollar, adding pressure to the non-yielding metal.

Reported · Written up by our desk · Precious Metals

Silver prices fell after gaining the prior session, trading around $60.30 per troy ounce during Asian hours Friday, according to FXStreet.

FXStreet said the drop reflects a strengthening US dollar and climbing Treasury yields, both of which can weigh on silver because it does not pay interest.

The outlet also tied the move to renewed inflation concerns linked to rising crude oil costs and fears of a worsening US and Iran conflict.

FXStreet pointed to hawkish remarks from Federal Reserve officials, citing Logan’s Fed Speechtracker score of 9.2 out of 10 versus a baseline of 8.1 out of 10, alongside calls for at least 50 basis points more in rate hikes.

Latest closeSilver $60.72 ▲0.1%|WTI crude $90.46 ▲1.2%

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