Commodities
Silver Price Surges as US Yields Pause, NFP Data Looms
The price of silver (XAG/USD) rose by 0.55% to near $61.38 during late Asian trading on Friday, as a pause in US Treasury yields boosted its appeal.
The rally in US Treasury Yields has hit a pause, with 10-Year US Treasury Yields correcting to near 5.25% from their recent highs of 5.34%, the highest level since May 2002.
A slight correction in US Treasury yields has improved the short-term appeal of non-yielding assets such as silver, although the broader trend remains firm with the Federal Reserve (Fed) signaling more interest rate hikes.