Silver just settled at its lowest level in more than a year. It is now down about 57% from January's record.
Comex silver lost 5.35% this week to $49.03, a new 52-week low, per Dow Jones Market Data. The record settle was $115.08 on Jan 26.
Why: the 10-year Treasury yield is near 5.14% and the dollar is firmer. Traders price roughly a 90% chance of a Fed hike in December (CME FedWatch). Rising yields hurt metals that pay no interest.
The move: $SLV closed Friday at $44.13, down 2.2% on the day and 5.8% on the week. Silver miner $PAAS ended at $37.50, down 8.9% on the week. Gold held up better near $3,886.
Is silver at $49 a value zone, or does the rate-hike story keep pushing it lower?
Comex silver lost 5.35% this week to $49.03, a new 52-week low, per Dow Jones Market Data. The record settle was $115.08 on Jan 26.
Why: the 10-year Treasury yield is near 5.14% and the dollar is firmer. Traders price roughly a 90% chance of a Fed hike in December (CME FedWatch). Rising yields hurt metals that pay no interest.
The move: $SLV closed Friday at $44.13, down 2.2% on the day and 5.8% on the week. Silver miner $PAAS ended at $37.50, down 8.9% on the week. Gold held up better near $3,886.
Is silver at $49 a value zone, or does the rate-hike story keep pushing it lower?
