Spot Silver traded in proximity to a fresh 14-year high of $39.44 on Wednesday, underpinned by a softer US Dollar and lower Treasury yields.
The US Dollar Index hovered above a two-week low and was last up 0.03% to 97.425. A weaker dollar makes dollar-priced Silver more appealing to international investors holding other currencies.
And, 10-year US Treasury yield dropped to its lowest level since July 9th.
Market players also continued to keep a close eye on trade developments.
US President Trump announced a “massive” trade agreement with Japan, under which the US will impose a 15% reciprocal tariff and Japan will open its market to more US-originated goods.
At the same time, US and Chinese officials will hold a meeting in Stockholm next week to discuss an extension to the August 1st deadline for securing a trade deal.
Spot Silver was last up 0.24% on the day to trade at $39.39 per troy ounce.
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