XAG/USD extends losses below $26.00 as US dollar recovers
Silver stays depressed near the intraday low of $25.59, down 0.54% on a day, during early Tuesday. While Turkish action and strong equities weighed on the white metal the previous day, US dollar gains could be traced for the quote’s latest weakness.
US dollar index (DXY) marks a recovery from 91.75, currently up 0.05% to 91.83, as Treasury yields regain traction. The US 10-year Treasury yield adds one basis point (bp) towards 1.70% by the press time. US Treasury yields not only propel US dollar but also recently weigh on equities and commodities
Unless crossing a confluence of 50-day SMA and a short-term resistance line near $26.40, silver buyers shouldn’t return to the desk.