Silver Steadies at $61 Amid Treasuries Retreat

Silver prices stabilized at $61.35 an ounce on Thursday as Treasury yields retreated, offering the metal some respite from its recent decline.

The front-month COMEX contract bounced back after a bruising stretch that saw prices fall 6.6% since the Federal Reserve raised rates roughly two weeks ago.

Falling yields tend to lift the appeal of non-yielding assets like precious metals, making silver more attractive relative to other investments.

However, the rate outlook remains uncertain, with Fed Vice Chair Philip Jefferson and New York Fed President John Williams signaling no urgency for an immediate further hike, but neither ruled out moves before year-end.