Silver Prices Rebound on Disappointing US Data and Geopolitical Tensions

Silver prices have rebounded by about 12% over the past month, closing at $64.83 per ounce. However, this recovery does little to repair the damage done since January, with silver still sitting 8.2% lower year-to-date.

The metal touched a twelve-month high of $121.78 per ounce in January before embarking on a sharp selloff fueled by climbing US Treasury yields and a firmer dollar.

Disappointing economic figures from the United States, including July retail sales falling 0.6% and a drop in consumer sentiment, have tempered expectations for tighter Federal Reserve policy, weighing on the dollar and making silver more affordable for investors outside the US.