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Silver rebounds to around $60.40 an ounce as yields stay elevated
FXStreet says silver is rising after two days of losses, but higher US Treasury yields and inflation worries remain headwinds for the non-yielding metal.
Silver prices for XAG/USD rebounded after two straight sessions of losses, trading around $60.40 per troy ounce during Asian hours on Thursday, according to FXStreet.
The outlet notes that silver, as a non-yielding asset, faces pressure as US Treasury bond yields hover near their highest levels since 2002, which can reduce investor demand for precious metals.
FXStreet also points to elevated energy prices as a driver of broader inflation concerns.
In the background, the Federal Reserve remains a key sentiment factor, with FXStreet citing Fed meeting minutes showing unanimous support among all 19 policymakers for a September rate increase and FedWatch indicating traders were pricing roughly a 78.0% probability of another rate hike.
Latest closeSilver $60.99 ▲1.7%