The price of silver experienced a modest increase of about 0.39% on Friday, with its recovery being capped by rising US yields. Despite softer-than-expected US economic data, silver (XAG/USD) is currently trading at $64.70, after rebounding from daily lows of $63.51.
Impact of Rising Yields
Rising US Treasury yields can dampen interest in investing in precious metals like silver and gold, as higher yields make bonds more attractive. As investors shift their funds to these safer, yield-bearing assets, precious metals often see diminished interest.
Gold and Automated Trading
For gold, which often moves in tandem with silver, these market conditions can also have an impact. Manually keeping track of such shifts and complex correlations can be challenging for the average investor. This is where automated trading, particularly focused on gold, can be a valuable tool. It offers the opportunity to navigate these market fluctuations without the need for constant monitoring.
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