Silver Price Gains on US Yield Retreat Amid Hawkish Fed Signals

The Silver price (XAG/USD) is up 0.55% to near $61.38 during late Asian trading on Friday, as US Treasury Yields retreat from their multi-decade high of 5.34%. The slight correction in yields has improved the appeal of non-yielding assets like Silver.

The Federal Reserve's Logan has signaled a hawkish message, with a 9.2/10 FXS Speechtracker score indicating a stronger tightening bias. This reinforces a narrative of a still-not-restrictive stance and a strengthening economic expansion that is supportive for the Dollar.

Investors are keenly awaiting the US Nonfarm Payrolls (NFP) data for September, which will be published at 12:30 GMT. The forecast suggests nonfarm payrolls to rise by 90,000 in September, down from 162,000 in August.