Silver stays near $66 as Fed hike odds jump after jobs data

Silver traded near $66 an ounce on Monday after losing more than 1% in the previous session, as markets raised expectations for an imminent Federal Reserve interest rate hike after stronger-than-expected US jobs data last week. Friday's data showed US nonfarm payrolls rose by 162000 in August, following an upwardly revised increase of 23000 in July and above market expectations for a gain of 56000. 1%, though the decline was smaller than economists had expected. Markets increased bets on a September Fed rate hike to roughly 60%, from around 50% before the data release.

Silver also stayed under pressure from higher oil prices as the US and Iran exchanged strikes on ships over the weekend, stoking concern about renewed inflationary pressures.