Silver prices strengthened at the beginning of this year and remained positive for the start of the Asian session trading on Friday (3/1), driven by the cessation of the US bond yield rally after experiencing a surge of more than 10% in the last four weeks.
Meanwhile, the US Dollar Index (DXY) is still trading sideways approaching its highest level in more than two years.
In addition, the outlook for the US Dollar and bond yields is expected to remain strong because the Federal Reserve (Fed) is expected to provide only a small interest rate cut this year because officials are optimistic about the economic path.
The current silver price is trading at $29,569/Toz.
Source: Newsmaker
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