Commodities
Silver Prices Slide Back to Key Support Amid Rising Oil Costs
Silver prices have fallen back to the key $63 support level as real yields surge amid rising oil prices and strong US PMIs.
The precious metal had benefited from declining oil prices, which eased inflation concerns and reduced expectations for more aggressive tightening. However, after Trump's remarks at the UN General Assembly, optimism over a near-term resolution to the conflict faded, contributing to a renewed rise in oil prices.
Risk sentiment deteriorated further with the release of stronger-than-expected US Flash PMIs, triggering another hawkish repricing and sending real yields higher. The focus remains on interest rate expectations and developments in the Middle East.