Silver Price Tumbles Amid Soaring Treasury Yields and Rate Hike Expectations

The silver price has taken a downturn, dropping to around $57.25 amid surging US Treasury Yields.

This comes as traders are confident that the Federal Reserve will deliver at least one interest rate hike by the October meeting, with an almost 75% chance indicated by the CME FedWatch tool.

The rise in yields has diminished the appeal of non-yielding assets such as silver, making it a less attractive investment option.