Silver Price Stalls at $66.25 Ahead of Crucial US Jobs Data

The silver price is facing resistance near $66.25 as investors await the US Nonfarm Payrolls (NFP) data for August, which will be released on Friday.

A strong recovery move above this level was seen on Wednesday, but it struggled to extend beyond $66.25 during the European trading session on Thursday.

The Fed is expected to raise interest rates in the September policy meeting, with a two-in-three chance of a rate hike, according to the CME FedWatch tool.

Higher oil prices due to restricted energy shipments through the Strait of Hormuz could also pressure the silver price, as it increases global inflation expectations and fears of interest rate hikes from central banks.