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Silver (SI=F) July futures opened at $65.21 per ounce on Tuesday, 0.6% lower than Monday's closing price. The price of silver fell this morning to $62.05 per ounce as of 9:08 a.m. ET.
Silver prices are falling this morning as concerns over future rate hikes have eclipsed the progress in peace talks between the U.S. and Iran. Two major investment banks lowered their gold price expectations this year, underscoring how rising borrowing costs curb demand for precious metals. Furthermore, silver prices are struggling even more than gold prices:
While gold's rebound was short-lived, primarily due to investors reassessing the outlook for U.S. interest rates following last week's hawkish Federal Reserve meeting, silver has struggled even more than the bullion, said veteran commodities **** yst and Head of Commodity Strategy for Saxo Bank, Ole Hansen.
"The combination of higher bond yields, a firmer dollar, and expectations that policy rates may remain elevated for longer continues to challenge investor appetite for non-yielding **** ets," Hansen wrote in a post on Substack.
Silver (SI=F) July futures opened at $65.21 per ounce on Tuesday, 0.6% lower than Monday's closing price. The price of silver fell this morning to $62.05 per ounce as of 9:08 a.m. ET.
Silver prices are falling this morning as concerns over future rate hikes have eclipsed the progress in peace talks between the U.S. and Iran. Two major investment banks lowered their gold price expectations this year, underscoring how rising borrowing costs curb demand for precious metals. Furthermore, silver prices are struggling even more than gold prices:
While gold's rebound was short-lived, primarily due to investors reassessing the outlook for U.S. interest rates following last week's hawkish Federal Reserve meeting, silver has struggled even more than the bullion, said veteran commodities **** yst and Head of Commodity Strategy for Saxo Bank, Ole Hansen.
"The combination of higher bond yields, a firmer dollar, and expectations that policy rates may remain elevated for longer continues to challenge investor appetite for non-yielding **** ets," Hansen wrote in a post on Substack.
2 months ago
