Treasury yields followed suit, with the 10-year yield falling to 4.088%—its lowest since April. The 2-year yield slid to 3.511%, marking a five-month low. Falling real yields tend to support non-yielding assets like silver, but industrial concerns capped upside.
Stagflation Talk Builds, Curbing Industrial Silver Demand
Stagflation fears are gaining momentum, adding complexity to the silver outlook. Juan Perez of Monex USA noted that tariffs and policy uncertainty are weighing on hiring and cost structures, eroding industrial demand. Slower hiring may translate to weaker consumption, reducing demand for silver in sectors like electronics, solar, and auto manufacturing.
Wall Street echoed these worries, with major indexes reversing early gains. The S&P 500, Nasdaq, and Dow all moved into negative territory by the close.