Hot Commodities: Silver slides to one-week low after giving up more than 2% in last session

COMEX Silver futures slumped in last session, sliding more than 2% amid firm US dollar and a spike in treasury yields. The metal fell further today and currently trades at $64.50 per ounce, down 0.75% on the day. These are the lowest levels in last one-week for the counter. The US 10-year Treasury yield broke convincingly above the critical 5% mark to hit its highest level since 2007 amid a rebound in crude oil prices. Silver has lost around 4% this week. MCX Silver futures ended lower by around 1.50% in last session. The open interest in the counter posted a sharp increase of 10.29% yesterday. The commodity currently trades at Rs 234700 per kg, down 0.51% on the day, finding some support under Rs 234500 per kg mark.

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