Silver Prices Dropped As The US Dollar Held Onto Its Crisis Inspired Gains

Silver prices dropped as the US Dollar held onto its crisis-inspired gains while Treasury bond yields recovered. 

The dollar rose to its highest level since June 2017 on worries over President Tayyip Erdogan’s calls for lower interest rates and fraying ties between US and Turkey. 

Turkey’s central bank announced an emergency liquidity boost, calming investors’ frazzled nerves. 

Bullion has declined about 9 percent this year, pressured by rising U.S. interest rates, a soaring dollar and failure to capitalize on its traditional role as a hedge against global uncertainties.

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