Silver prices fell by 1.7%, retreating to around $58.00 during the European trading session on Friday, according to FX Street. The decline in silver was linked to a rebound in US Treasury Yields, which have surged amid concerns that inflationary pressures may persist.
FX Street reported that the bounce back in US Treasury Yields reflects investor worries over sustained inflation, which typically strengthens the US Dollar and weighs on precious metals like silver. This dynamic contributed to the downward pressure on silver prices during the session.
For Japanese investors, this movement is notable as shifts in US yields and the dollar can influence the appeal of silver as a hedge and affect related FX and equities markets domestically.