Silver Price Dives as Fed Hawkish Narrative Takes Hold

The silver price has plummeted over 4% to around $61.50 due to elevated US Treasury Yields, which have diminished its appeal.

Higher oil prices and the possibility of more interest rate hikes by the Federal Reserve (Fed) in the near term have prompted US Treasury Yields to rise.

Analysts at Deutsche Bank highlight that recent energy moves and 'the ongoing resilience in the economic data' have lifted bond yields, underscoring the strength of the labour market.