Hot Commodiites: Silver advances towards $68 as oil prices and yields retreat

Silver climbed towards $68 an ounce in Friday?s mid-electronic session, extending gains for a fourth consecutive session as softer oil prices eased inflation concerns and supported a pullback in bond yields. US 10-year Treasury yields retreated from a multi-year high of 5.04% towards 4.93%, reducing the opportunity cost of holding non-yielding silver. The dollar index held around 100, remaining near seven-week highs, while markets assessed the Fed?s latest rate decision and prospects for further tightening. Meanwhile, international oil futures tumbled more than 2% to $94.99 per barrel, further supporting sentiment across precious metals.

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