Silver Price Flat as US Data Looms and Hawkish Sentiment Dominates

The silver price (XAG/USD) is trading flat around $66.60 ahead of key US economic data releases on Tuesday.

The Manufacturing PMI is expected to arrive at 55.2, lower than 55.6 in July, while fresh jobs posted by US employers are seen marginally lower at 7.3 million from 7.359 million in June.

Rabobank's Elwin de Groot argues that Fed Chair Kevin Warsh's recent appearance at Jackson Hole was designed to shift expectations ahead of the September meeting, creating a difficult balancing act for the White House.

The next round of data, especially the 4 September employment report and 11 September CPI, could prove crucial in determining whether the hawkish messaging translates into actual policy action.