Silver Prices Under Pressure as Yields Rise and Fed Outlook Shifts

Silver prices remained stable but under pressure on Thursday, hovering around $61.11 as traders showed caution in the market.

The precious metal's price has been impacted by rising US Treasury yields, which have made non-yielding assets such as silver less attractive to investors.

Elevated oil prices and stronger expectations for Federal Reserve rate hikes have also contributed to capital moving away from income-free commodities like silver.

Technical indicators suggest that the price of silver is likely to consolidate within a range of $58.3 to $63.76, with a 65% probability of further declines.