Silver Price Plunges as Oil and Treasury Yields Surge

The silver price has dropped to near $60.50 amid rising oil prices and elevated Treasury yields, which are driving inflation concerns and expectations of further Federal Reserve rate hikes.

Oil prices have surged due to stalled US-Iran nuclear talks, pushing energy costs higher and heightening the need for monetary policy tightening to combat inflation.

Rising inflation concerns and expectations of additional rate increases have pushed Treasury yields to fresh multi-year highs, creating headwinds for non-yielding assets like silver.