Silver prices (XAG/USD) edged down to around $60.50 per troy ounce on Tuesday, approaching two-month lows as the US Dollar strengthened and US Treasury yields climbed. Earlier in Asian trading hours, silver was seen trading near $60.70 per troy ounce, paring some of its recent gains, according to FX Street.
The precious metal’s decline is attributed to the resilient US Dollar and surging Treasury yields, which have weighed on silver’s appeal as an alternative investment. These factors continue to pressure silver prices, keeping them near their lowest levels in two months.
For Japanese investors, who often monitor safe-haven assets amid currency fluctuations, the firm US Dollar and rising yields may influence portfolio strategies, especially in the FX and commodities markets.