Silver rebounds near $67.50 (+2.64%) as the dollar slips near 98.61 while FedWatch prices ~62% odds of a 25bp hike at the Sept 15–16 meeting and the 10-year yield holds near 4.80%.
Silver rebounded on Wednesday as a softer US Dollar clashed with oil-driven inflation fears that are lifting Fed hike expectations.
XAG/USD trades around $67.50 at the time of writing, up 2.64% on the day.
The US Dollar Index falls around 0.25% on Wednesday and trades near 98.61, close to its lowest level since August 21. CME FedWatch Tool prices around a 62% chance of a 25-basis-point rate hike at the September 15–16 meeting. The benchmark 10-year US Treasury yield trades around 4.80%, near its highest level since November 2023 — limiting precious metals’ ability to fully benefit from the weaker dollar.
The sharp rise in oil amid US–Iran escalation — including the US military destroying five Iranian oil tankers after IRGC attempts on a US Navy warship — is sustaining inflation and tighter-policy expectations. Soft prior oil/gold tapes: gold EU reclaim ~$4,400, Brent clears $100, and WTI EU ~$92.70.
Also see: US Treasury Enlarged Longer-Term Buyback Hits ~$6B; 10y Yield ~4.85%, 30y ~5.30%.
Also see: Gold NY Holds Near $4,400, Rising Over 1% Despite Treasury Buyback Yield Spike.
Also see: Silver Tumbles Below $66 to Near $65.80 as US Dollar Recovers Ahead of PPI.
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Silver slides near $64.35 (−4.39%), below $65, as hot PPI lifts Fed hike bets. FedWatch ~70% this stamp, up from about 61% pre-data. DXY ~98.90; 10y ~4.92%.
Gold near $4,368 (−0.75%) as hot PPI keeps Fed hike odds elevated. FedWatch ~64% next-week hike vs Reuters economists’ pause through year-end — both quoted, not averaged. DXY ~98.96; 10y ~4.92%.
Gold slides near $4,346 after an intraday high of $4,434 as hot PPI lifts the dollar, yields and Fed hike pricing. FedWatch ~64% next-week hike vs Reuters economists’ pause through year-end — both quoted, not averaged.