Silver (XAG/USD) trades on the back foot on Friday as rising US Treasury yields outweigh support from a weaker US Dollar (USD). At the time of writing, XAG/USD trades around $57.50, down 2% on the day and on track to close July in negative territory.
The US Dollar stays under pressure following suspected intervention by Japanese authorities to support the Japanese Yen (JPY). The US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, hovers around 100, near six-week lows.
Meanwhile, US Treasury yields move higher as elevated energy prices keep inflation risks tilted to the upside, reinforcing…
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