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Silver slips under $60 as sellers keep control of XAG/USD
XAG/USD was last around $58.83, down 1.9% on the day, while the 10-year Treasury yield eased toward 5.30%.
Silver prices fell on Thursday after breaking below the $60 psychological level, with sellers maintaining control of the XAG/USD move, FXStreet reports.
At the time of writing, XAG/USD traded near $58.83, down 1.87% on the day and close to two-month lows.
The pullback came as the US Dollar and US Treasury yields eased, with the benchmark 10-year yield moving toward 5.30% after touching 5.36% on Wednesday, its highest level since 2002.
Despite the easing, Treasury yields remained elevated near multi-year highs amid persistent inflation risks and expectations of additional Federal Reserve rate hikes, and XAG/USD stayed below major moving averages with RSI drifting toward the mid-30s.
Latest closeSilver $60.99 ▲1.7%