Silver Trades Around $68.70 After Extending Toward $69.00

Silver extends its gains for a third day, trading around $68.70 an ounce in Friday’s Asian session. That is the body stamp on the FXStreet 02:37 UTC page, dateModified 21 August 02:37:37 UTC. This is the Friday silver daily.

The same page’s headline says the metal “surges to near $69.00.” That headline is not the body tape. The two prints are quoted. They are not averaged. This is not a flat $69.

The weekly bid is still the Treasury buyback

The same page says silver is up nearly 6% this week after the Treasury long-end buyback. Yields and the dollar fell on that announcement. The metal kept climbing even after yields reversed Wednesday’s drop, it writes, on the view that the buyback may only be a temporary fix.

Elias Haddad at Brown Brothers Harriman, as reprinted there, said US long-term yields “have retraced most of Wednesday's drop” while the dollar “has extended its decline.”

Friday’s gold daily stays the other live metals tape. It is not recut.

Oil is the cap, not a second WTI

Further gains, the same page writes, could be capped by rising oil and the inflation risk that keeps hike bets alive. That energy pressure is the US-Iran standoff over Hormuz. WTI is already the live oil tape. It is color here.

TD Securities, as reprinted there, says negotiations have been “on hold for weeks” and that “crude flows in the market will remain critically tight.”

Live silver is on prices. The next stamps sit on the economic calendar.

Informational only. Not trading advice, signals, or a guarantee of any market outcome.