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Silver Price Crashes Amidst Market Sell-off
13 Mar
Summary
- Silver price today fell to $83.40 per ounce, a 2.01% decrease.
- A stronger U.S. dollar and rising Treasury yields triggered the selling.
- Inflation fears are rising due to surging oil prices, delaying Fed rate cuts.
Precious metals experienced a significant downturn today, with silver prices crashing by 2.01% to $83.40 per ounce. This sharp decline was mirrored across other commodities, as gold prices slipped by $25 to $5,100.60 and platinum dropped 4.47% to $2,068.60. Copper prices also saw a slight easing, settling at $5.80.
The primary catalyst for this broad market sell-off appears to be a strengthening U.S. dollar index, which neared 100.19. This surge in the dollar occurred alongside a five-week high in Treasury yields, indicating a shift in investor sentiment.
