Silver Price Dips Below $64.00 Amid Profit-Taking and Cooling Inflation

Silver prices have been on the decline, falling below $64.00 to trade around $63.50 per troy ounce during Asian hours on Friday.

The price drop is attributed to profit-taking among investors, who are weighing the Federal Reserve's monetary policy trajectory alongside ongoing geopolitical tensions in the Middle East.

Cooling inflation data has also shaped market sentiment, with US wholesale prices for goods and services remaining flat in July. This came in softer than expected, prompting market participants to recalibrate their expectations for Federal Reserve interest rate policy.