Commodities
Silver Price Climbs Above $67.00 as Yields Fall
Silver prices rose above $67.00 on Friday after bouncing from lows near $62.00 earlier in the week.
The precious metal's rally is attributed to a moderate reversal in US Treasury yields, which offset the negative impact of the Federal Reserve's hawkish rate hike.
US long-term yields retreated below the critical 5% level after the Fed raised its benchmark interest rate by a quarter-point to 3.75-4%, and Chairman Kevin Warsh reaffirmed the bank's commitment to fighting inflation.
The XAG/USD pair is heading towards resistance just above $68.00, where it capped rallies several times earlier in September.