XAG/USD jumps 2.7% to $59.94 after US Treasury yields and the dollar retreat, reversing earlier losses.
Silver prices climbed 2.7% on Thursday, nearing $60.00 as US Treasury yields fell and the US Dollar weakened by over 0.12%. The move erased earlier losses, with XAG/USD trading at $59.94 after hitting daily lows.
The rebound follows a broader pullback in yields, which reduced the opportunity cost of holding non-yielding assets like silver. The dollar’s decline also supported the metal, making it cheaper for holders of other currencies.
Despite the rally, the lower-low structure in silver’s price action remains intact, suggesting ongoing bearish pressure in the near term.