Silver Price Tumbles Amid Soaring US Treasury Yields

The recent surge in US Treasury yields has reached a two-decade high near 5.3%, causing concerns for Silver investors.

This increase in interest-bearing assets diminishes the appeal of non-yielding assets like Silver, making it vulnerable to price drops.

Analysts at TD Securities believe that despite market expectations, the Fed may still raise rates in October, but with a more gradual approach.

The upcoming US Nonfarm Payrolls (NFP) data for September is expected to influence the next major movement in Silver prices.

XAG/USD trades near $60.38, maintaining a bearish tone as it holds below the 20-period Exponential Moving Average at $63.66.