Commodities
Silver Tumbles on Rising Yields, Hawkish Fed Expectations
Silver (XAG/USD) is down 2% on the day, trading at around $57.50 as rising US Treasury yields offset support from a weaker US Dollar.
The US Dollar stays under pressure after suspected intervention by Japanese authorities to support the Japanese Yen, with the DXY hovering near six-week lows.
Hawkish Federal Reserve expectations continue to weigh on non-yielding metals like Silver, as higher borrowing costs increase the appeal of interest-bearing assets.