Silver drops 6.5%: Buying opportunity or more pain ahead? | FXStreet

Gold and silver are trying to stabilize after a rough September, with renewed selling pressure appearing as investors wait for clearer confirmation that the correction is over. The near-term headwinds cited are a stronger U.S. dollar and elevated interest rates. Gold is consolidating around $4,160 per ounce, while silver trades near $61, both slightly below those levels as of the Friday recording. Softer labor and consumer-confidence data earlier this week helped the metals rebound, aided by cooler inflation prints and reduced expectations for an October Fed hike. However, the 10-year Treasury yield has been a persistent drag, briefly rising to about 5.34% before easing toward 5.25%.