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Silver slides to fresh two-month low below $59 amid higher US yields

Silver traded around $58.50, while 10-year US Treasury yields rose about 1.3% to roughly 5.35% as renewed oil and geopolitical headlines kept risk and inflation expectations in focus.

Reported · Written up by our desk · Precious Metals

Silver prices fell to a fresh two-month low near $58.50 in European trading on Thursday, extending the recent slide in XAG/USD.

FXStreet linked the selling pressure to expectations of further gains in US bond yields, noting that higher yields reduce demand for non-yielding assets like silver.

The outlet also pointed to a bounce in oil prices tied to renewed geopolitical headlines, including a White House request that the Pentagon prepare options on strikes against Iran ahead of US midterms.

FXStreet added that 10-year US Treasury yields were up about 1.3% near 5.35%, close to a two-decade high of 5.36%, and cited views that yields could move higher further after markets broke above that level.

Latest closeSilver $59.48 ▼0.7%

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