Commodities
Silver Prices Plunge 4.3% as Dollar Strength and Rate Fears Intensify
Silver prices declined by 4.3% last week, settling at $64.71 per troy ounce on the COMEX front-month contract.
The drop comes amidst a resurgent US dollar, climbing Treasury yields, and elevated energy costs that have sapped demand for the non-yielding precious metal.
Traders are recalibrating their expectations for monetary policy, with fresh rate anxieties weighing heavily on silver prices.
The CME Group's FedWatch barometer currently implies a roughly 68% probability of another rate hike at the central bank's next meeting.