Silver sharpens decline off recent highs

Silver prices deepened their losses on Monday for the second straight session away from 11-week highs, as traders collect profits. 

Silver's dip comes as dollar recovered while liquidity moved from commodities to bonds, as US treasury yields hit two-year highs.

Many analysts now expect the Federal Reserve to accelerate the pace of interest rate hikes as inflation steadies, hurting demand on safe havens such as silver. 

Asian stock indices lost ground today, offering a modicum of support to the white metal for its haven status. 

Silver prices dipped to $17.05 an ounce from the opening of $17.10, with an intraday high at $17.11, and a low at $17.03.