Silver Prices Watch 10-Year Yields for Direction

Silver prices sought clear direction early Tuesday as 10-year Treasury yields dropped. Higher bond yields typically weigh on silver’s value.

Traders are closely watching the 10-year yield. A break above 4.30 percent for the yield could pressure silver prices lower. Resistance for silver sits at $80, with a potential move to $90 if that level is breached. Support for silver is noted at $70.

Silver prices are expected to remain volatile. Geopolitical headlines, particularly those related to conflict, are currently driving the bond market. This directly impacts yields, which in turn affect silver.

A potential lack of supply could support silver prices once current Middle East tensions subside. For now, traders should carefully monitor the bond market’s movements before making buying decisions. The commodity is seen trading between $70 and $90 for some time.