Commodities
Silver Price Rebounds as Fed Rate Hike Odds Ease
The silver price (XAG/USD) has regained ground after posting losses the previous day, trading around $60.90 per troy ounce during Asian hours on Thursday.
The support for non-yielding silver comes as Federal Reserve (Fed) rate hike expectations eased following softer-than-expected United States (US) inflation data released on Wednesday.
The CME FedWatch Tool indicates that markets now price in roughly a 38% chance of a Fed rate hike in October, down from nearly 51% prior to the PCE release.