Silver Prices Swing on Rate Expectations, Structural Scarcity

Silver prices have been volatile in September, swinging between $64 and $66 per troy ounce as traders react to rising global bond yields and interest rate expectations.

The metal's price action has been driven by conflicting signals from the US employment picture and the Federal Reserve's next move, with weak labor-market indicators potentially supporting rate cuts that would benefit silver prices.

A soft US dollar has also provided a catalyst for a rebound in metals, which remain highly sensitive to currency and interest-rate expectations.