Silver Drops as Rising Interest Rates Weigh

Silver prices fell again on Thursday. Rising interest rates in the United States and Europe are driving this decline. Non-yielding assets like silver struggle in this environment.

The silver market shows a negative trend. When America’s 10-year yield rises, silver prices typically drop. Bonds offering a rate of return draw money away from assets that do not yield interest.

Silver now trades below the $70 level, a negative sign for the metal. Traders see a potential target at $62.31, where the 200-day Exponential Moving Average sits. Silver also sold off late Wednesday as rate market pressures continued.

Traders continue to view any rally as a chance to sell. The market is expected to remain volatile, requiring careful, short-term trading. Silver faces significant challenges, which may persist until geopolitical conflicts resolve.