Silver Price Soars Near $64 Amid Hawkish Fed Bets and Record Treasury Yields

The silver price has rebounded to near $64 in the early European session on Wednesday, after clawing back its early losses.

The Federal Reserve's hawkish bets are putting pressure on non-yielding assets like silver, as surging US Treasury yields have reached a record high of 4.81% for the first time since November 2023.

Fed Governor Michael Barr warned that interest rates may need to be hiked if inflation remains too high, echoing Fed Chair Kevin Warsh's warning at the Jackson Hole Symposium.

The US ADP Employment Change data for August is expected to be published later in the day, with estimates suggesting a 48K increase in private sector jobs.