Why are silver prices down today, and will it continue to reach dream levels again?
4 Articles
4 Articles
After reaching the peaks at the beginning of the year, silver prices are falling. The price of white metal is currently around 66 dollars per ounce, far from its historic peak of 124 dollars per ounce, at the end of January. Is this situation likely to last?
Why are silver prices down today, and will it continue to reach dream levels again?
Silver prices have been falling along with other precious metals. A stronger US dollar and expectations of higher interest rates have been putting pressure on the market. Spot silver has fallen 3% to $65.05 per ounce. The higher interest rates can also reduce demand for non-yielding assets, such as silver.
Silver Prices Under Pressure as US Bond Yields Hit 20-Year Highs
Current Setup Bias: short-term bias is cautious-to-bearish below $67Silver price is under pressure this Thursday as US bond yields rise to their highest levels in nearly 20 years. The white metal is currently trading around $63.36/oz, after a sharp reversal from above $67.50 earlier in the week. The immediate backdrop is the challenge posed by a strengthening US Dollar, buoyed by rising yields and increasing safe-haven demand, and by Middle East…
Amid pressure from the Fed's firm interest rate stance and a strong dollar, a sharp sell-off began in precious metals. On international markets, silver fell to $64 per ounce, while domestically, the price of silver per gram dropped to around 100 TL.
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