Silver Price Jumps as US Dollar Weakness Boosts Precious Metals

The silver price is currently trading at levels above $65.80, after bouncing from the $63.50 area on Friday.

The US Dollar's weakness is contributing to the boost in precious metals, as recent US macroeconomic data has curbed hopes of a Federal Reserve interest rate hike this year.

The July Retail Sales dropped 0.6% against market expectations of a 0.1% gain, following a 0.2% increase in June.

Investors have dialled back bets of a Fed hike in September to 30%, from above 50% one week ago, according to data by the CME Group's FedWatch Tool.