Commodities
Silver Price Rockets Amid Market Volatility
The price of silver (XAG/USD) rose to nearly $69.00 on Friday, marking its third consecutive day of gains in Asian hours.
This surge comes as investors turn to safe-haven metals amid heightened volatility across global currency and bond markets.
The US Treasury Department's plan to at least double its long-term debt buybacks has driven Treasury yields and the dollar sharply lower, with silver prices up nearly 6% this week.
Brown Brothers Harriman's Elias Haddad notes that US long-term Treasury yields have retraced most of Wednesday's drop triggered by the US Treasury's buyback announcement, while the USD continues to decline.