Silver prices fell Thursday as rising U.S. Treasury yields pressured the precious metal. The benchmark 10-year U.S. yield climbed above the 4.30% level again. Higher yields typically make non-yielding assets like silver less attractive to investors.
A drop below the 50-day Exponential Moving Average (EMA) could see prices target the $72 level. The 50-day EMA is currently positioned just above $77.
A pullback towards $75 might present a buying opportunity for traders. However, prices below $70 would indicate significant weakness, marking the floor of recent consolidation.
U.S. interest rates heavily influence silver’s direction. Traders monitor the 10-year yield closely, as a decline in yields would generally support silver prices. Longer-term, supply and demand dynamics are seen as favorable for the metal.