Silver (XAG/USD) remained just under the $60.00 mark on Thursday, as attempts to push prices higher were limited by rising US Treasury yields. According to FX Street, the precious metal traded a few cents below $60.00, with upside momentum capped amid the yield surge.
The increase in US Treasury yields to new highs has put pressure on silver prices, reflecting the typical inverse relationship between bond yields and precious metals. Investors often view rising yields as a sign of higher opportunity costs for holding non-yielding assets like silver.
For Japanese market participants, monitoring silver's performance is increasingly relevant given the ongoing shifts in global bond markets and their impact on commodity-linked assets and FX pairs involving the yen.