Silver rises above $26 on falling dollar
Economies.com
2021-06-21 19:37PM UTC
Silver prices rose on Monday, as the US dollar fell against most major currencies, and the US Treasury bond yields fell.
The Federal Reserve decided last week to keep the interest rate near zero and forecast 2 interest rate hikes in 2023, and raised its forecast for US GDP growth this year to 7% from 6.5% in March.
The US Treasury yield for 2023 fell below 2% today for the first time since last February, and the the 10-year bond hit a 4-month low.
The dollar index fell against a basket of major currencies by 0.4% to 91.8 points as of 19:26 GMT, after hitting a high of 92.3 points and a low of 91.9 points.
Silver spot futures rose 0.2% to $26.05 an ounce as of 19:26 GMT, after hitting a day high of $26.1 and a low of $25.580.
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