SLV is trading 4.2% down today as silver prices face intense pressure from a strengthening U.S. Dollar and repriced Fed rate hike expectations following hot inflation data and Kevin Warsh's confirmation as Fed Chair.
- Rising Treasury yields and USD strength are currently overriding precious metals demand, offsetting support from India's recent silver import duty hike to 15%.
- Market participants are aggressively recalibrating the interest rate outlook as the hawkish Fed shift diminishes the appeal of non-yielding assets like silver.