Silver (XAG/USD) trades near $64 per ounce following a roughly 3.5% weekly decline, pressured by 10-year Treasury yields near 5.15-5.22%—their highest levels in 19 years—and growing expectations of additional Federal Reserve rate hikes after the September 25-basis-point increase to the 3.75-4.00% target range. The stronger dollar and elevated real yields have raised the opportunity cost for non-yielding assets, offsetting the market's sixth consecutive annual supply deficit. Key near-term catalysts include the August PCE release on September 30 and the September employment report on October 2, which could shift rate-path pricing and influence industrial demand sentiment. Technical support clusters near $62-63, with resistance around $66-68.