Silver July futures fall 0.6% at open, extending losses amid rising U.S. interest rate expectations and a stronger dollar.
Silver July futures (SI=F) opened at $65.21 per ounce on Tuesday, down 0.6% from Monday’s close, before sliding to $62.05 as of 9:08 a.m. ET. The decline reflects broader concerns over prolonged U.S. interest rate hikes, which dampen demand for non-yielding assets like precious metals.
Over the past month, silver prices have dropped 14.2%, underperforming gold, which saw only a brief rebound. A year ago, silver traded 80.3% lower, highlighting its recent volatility. Analysts cite a firmer dollar and higher bond yields as key pressures.
Investment banks have revised gold price forecasts downward, signaling caution across precious metals. Silver’s sharper decline suggests it faces additional headwinds beyond those affecting gold.