Silver holds near recent highs as inflation data cools
Silver fluctuates around $65 an ounce, near the highest since June 22, after softer US producer-price inflation reinforced expectations that the Federal Reserve will leave rates unchanged next month.
Silver fluctuated around $65 an ounce, near the highest since June 22, as softer US inflation data reinforced expectations that the Federal Reserve will leave interest rates unchanged next month.
US producer-price inflation eased more than expected in July, helped by lower energy and food costs, providing further evidence that price pressures are not broadly accelerating.
However, renewed tensions in the Middle East remain a risk, as any disruption could push energy prices higher and revive inflationary pressures.
Oil is heading for a weekly gain as traders continue to monitor efforts by the US and Iran to end the conflict and reopen the Strait of Hormuz.
Beyond monetary policy and geopolitical risks, silver continued to benefit from robust industrial demand, particularly from expanding solar-panel manufacturing and electricity-grid investment.
Chinese imports of silver-bearing ores jumped 62.5% year-on-year in June to 219,000 tonnes.