Bearish
Silver drops 1.1% to $60.70 as oil rebounds and yields rise
Over the past 24 hours, silver (XAGUSD) has declined by approximately 1.1%, trading around $60.70. This downturn is attributed to rising oil prices, which have reignited inflation concerns, and elevated U.S. Treasury yields, increasing the opportunity cost of holding non-yielding assets like silver.
Key points
- Silver falls 1.1% to $60.70 amid rising oil prices and yields
- Elevated U.S. Treasury yields increase opportunity cost of holding silver
- Weak September payroll growth reduces expectations for Fed rate hikes
Sources
AI-generated from public news sources. Not financial advice.
