Silver Price Steadies Near $65.40 as Fed Rate Hike Bets Soften

The silver price has steadied near $65.40 as market expectations for further Federal Reserve rate hikes ease, offering support to the precious metal's outlook.

This stabilization comes as investors dial back bets on aggressive Fed tightening, with the CME FedWatch Tool showing a higher probability of a rate cut by June.

The US Dollar Index has softened from its recent highs, easing pressure on dollar-denominated commodities and making silver more attractive to investors.

From a technical standpoint, silver is hovering near a critical juncture, with immediate support at $65.00 and resistance at $66.00.