Silver trades above $65 as dollar and Treasury yields ease
Silver traded above $65 an ounce Thursday after rebounding, helped by a pullback in the dollar and Treasury yields. Fed Bank President John Williams cited easing inflation signals as private employment growth slowed in August.
Silver traded above $65 an ounce on Thursday after rebounding in the previous session, as a pullback in the dollar and Treasury yields provided some relief.
New York Fed Bank President John Williams said there is evidence that inflation continues to ease as the impact of tariffs fades, while higher energy prices have yet to spill over into other services.
Data on Wednesday also showed that US private employment growth slowed in August.
Still, markets are pricing in around a two-thirds chance of a Fed rate hike later this month following Chair Kevin Warsh’s hawkish remarks on Friday.
Elsewhere, oil prices halted their rally after President Donald Trump said the latest attacks on Iran would be short-lived while indicating that the US stands ready for further strikes, easing inflation concerns and providing additional support to precious metals.