Silver Holds Firm Ahead of PCE Inflation Data and Jackson Hole

Silver prices have stabilized above $68 per ounce, reaching near two-month highs ahead of the upcoming US PCE inflation data release. This key economic indicator is closely watched by investors, as it serves as the Federal Reserve's preferred measure of inflation.

Fed Chair Kevin Warsh will deliver a speech at the Jackson Hole symposium on Friday, but expectations are that he will not provide clear guidance on the central bank's policy decision in September. This lack of clarity has left investors assessing other market developments for signs of direction.

The US Treasury's decision to double liquidity-support buyback operations for longer-dated notes and bonds has contributed to a decline in the dollar, which reached a three-month low last week. Additionally, oil prices have fallen for a third consecutive session, easing inflation concerns and supporting the bullish outlook for precious metals.

Industrial demand for silver remains strong, driven by the growth of green energy technologies such as photovoltaic solar panels, electric vehicles, and artificial intelligence data center infrastructure.