Silver falls for third straight day

Silver prices fell on Monday, to deepen losses for the third straight day as the US dollar rebounded against a basket of major currencies, while the US Treasury bonds yields jumped to a 1-week high.

Silver prices fell 0.5% to $25.84 an ounce, after opening at $25.96, and hit a high of $26.15.

Silver fell 0.5% on Friday, in its second straight daily loss, on profit-taking from a 7-week high of $26.64 an ounce.

The dollar index rose more than 0.1% on Monday, to rebound from the 2-month low of 90.68 points hit earlier, which weighs down on the prices of dollar-denominated metals.

The 10-year Treasury yield rose 2.5% to nearly 1-week high at 1.599%, which weighs down on market's risk appetite.

This comes ahead of the US Federal Reserve’s monetary policy meeting on Tuesday, amid anticipation of more clues about the pace of the US inflation and the future of interest rates.