Commodities
Silver Slumps to Near $60.50 Amid Surging Oil and Treasury Yields
The Silver price (XAG/USD) has dropped to near $60.50 amid surging oil and Treasury yields, losing over 5% in value in a single day.
This decline is attributed to ongoing uncertainty surrounding US-Iran negotiations, which have kept oil prices elevated.
With energy costs persistently high, there's increased pressure on the Federal Reserve (Fed) to tighten monetary policy further to combat inflation.
US President Donald Trump's rejection of Tehran's latest proposal has stalled diplomatic momentum, and Iranian officials' doubts about reaching an agreement before the US midterm elections in November have resumed the surge in oil prices.