Silver endured a significant selloff last Friday. Was this another step forward in the bull market?

Silver price plunges to $28.40 as the US Dollar capitalizes on uncertainty over Fed rate cut timing. US bond yields rise further as the Fed is expected to consider rate cuts later this year. Geopolitical tensions keep safe-haven demand intact.

At the end of the trading day, the Dow Jones Index (US30) was down 0.02%, while the S&P 500 Index (US500) added 0.14%. The Nasdaq Technology Index (US100) closed positive 0.32% yesterday.

A few hours ago, spot Gold again rallied to a new all-time high above $2,300. Gold tends to be positively correlated with risk assets, many of which have been enjoying rallies to new highs in recent days.

The oil market has been trading little changed this morning as market participants assess diplomatic efforts in the Middle East. A bearish inventory report from the API put pressure on oil prices this morning.