Silver Rebounds to $66.78 Amid Softening Yields and Geopolitical Tensions

Silver prices rebounded on Friday, settling at $66.78 an ounce after a bruising stretch of trading. The metal gained 1.6% on the day as US Treasury yields fell and crude prices softened.

The recovery marked a return above the 50-day moving average of $64.34, a level traders are watching closely for near-term direction.

This comes after a turbulent period that saw silver tumble from around $68.50 to just under $64 an ounce in a matter of days following hotter-than-expected US inflation readings and a firmer dollar.

The rate story was compounded by geopolitical tensions, with the Middle East conflict weighing on commodity markets and stoking inflation worries.