Silver Buyers Stumble at $70 Mark

Silver prices remain firm near $69.17 on Monday, after a strong rally last week, but buyers are struggling to push above the $70 psychological mark.

The US Dollar's strength is limiting some of Silver's upside, and Gold (XAU/USD) is outperforming the white metal at the start of the week, up nearly 1% on the day.

Despite this, the broader backdrop remains supportive for precious metals following the US Treasury's buyback announcement and fading expectations of an imminent Federal Reserve rate hike.

Later in the week, attention turns to key US data, including the Personal Consumption Expenditures (PCE) Price Index on Wednesday, which could shape expectations for the Federal Reserve's September policy meeting.