Silver Prices Plummet Amid US Yield Surge and Stronger Dollar

Silver prices retreated on Tuesday, falling by 0.38% to around $60.75 per ounce.

The decline comes as US Treasury yields surged to a 14-year high of 5.28%, and the US Dollar Index (DXY) rose to its highest levels in two months, near 101.50.

The sharp increase in yields is attributed to concerns that higher energy prices could keep inflationary pressures elevated in the United States, forcing the Federal Reserve to maintain a restrictive monetary policy stance.