Silver Price Stuck Between $60 and $70 Amid Rate Pressures

The silver price has been stuck in a tight range between $60 and $70 since June. This is largely due to interest rates, which work against the value of silver as it becomes more attractive to buy paper assets than physical ones.

According to the source, 'it's easier to buy paper than it is to store silver.' The correlation between higher interest rates and lower metal prices holds true, although the current energy inflation makes this situation a bit unique.

The US dollar isn't the sole culprit in the current market dynamics. Instead, it's about rates and the attractive yield on the 10-year and 2-year yields that are weighing down silver. Choppy trading has been the norm, but there's no indication of change just yet.