Silver futures stayed under pressure after Monday’s sell-off, trading around $61/oz, as rising US Treasury yields and a firmer dollar raise the opportunity cost of holding a non‑yielding asset and lift costs for overseas buyers. Markets are pricing in another Fed rate hike in October, which adds further downside. Zaye Capital Markets analyst Naeem Aslam said long-term supply dynamics remain supportive: silver is set for a sixth consecutive year of supply deficit and mine supply growth is limited

Silver futures stayed under pressure after Monday’s sell-off, trading around $61/oz, as rising US Treasury yields and a firmer dollar raise the opportunity cost of holding a non‑yielding asset and lift costs for overseas buyers. Markets are pricing in another Fed rate hike in October, which adds further downside. Zaye Capital Markets analyst Naeem Aslam said long-term supply dynamics remain supportive: silver is set for a sixth consecutive year of supply deficit and mine supply growth is limited. Industrial demand is the key downside risk. Aslam added that if yields ease and the dollar weakens silver could quickly find support, but if both remain elevated the market may test lower technical levels before a sustained recovery.