Silver rises above $65 after two-week lows amid softer USD, yields
Silver rose above $65 an ounce on Wednesday as the US dollar and Treasury yields pulled back from recent highs. Traders also look ahead to Friday’s US payrolls for clues on the Fed path.
Silver rose above $65 an ounce in afternoon trading Wednesday, recovering from two-week lows as the US dollar and Treasury yields pulled back from recent highs.
Investors are awaiting US payrolls data on Friday for further clues on the Federal Reserve’s policy path.
Oil prices hovered around six-week highs as traders weighed elevated supply risks from ongoing Middle East hostilities against signs that crude was still reaching the market.
Meanwhile, the latest ADP report showed US private businesses added 38,000 jobs in August, the weakest increase since January and below expectations of 47,000, pointing to a broader cooling in the labor market.
Markets now price in a 66% chance of a September Fed hike, up from around 40% a week ago, according to the CME FedWatch Tool.