Silver Price Consolidates Near $69 as Treasury Buybacks Support Safe-Haven Assets

The price of Silver (XAG) is currently trading at $69.31, showing no significant change on the day.

The asset holds above its key short- and medium-term moving averages while remaining under longer-term averages.

US Treasury buybacks of longer-term debt have increased to over $4 billion in an effort to provide greater bond market liquidity and indirectly support demand for alternative safe-haven assets, including Silver.

The boost in Treasury buybacks and ongoing US fiscal uncertainties continue to drive attention toward precious metals as investors reassess portfolio risk, supporting a generally bullish outlook for Silver driven by defensive asset flows.