Silver Prices Bounce Back to $69 as Traders Eye Fed Policy Outlook

Silver prices have recovered to around $69.10 per troy ounce in Asian trading on Thursday, after pulling back in the previous session.

The metal is finding support as traders reassess interest rate expectations ahead of the Federal Reserve's policy meeting next month, following fresh U.S. inflation data released on Wednesday.

The Personal Consumption Expenditures (PCE) price index for July increased 0.2% month-on-month, exceeding the 0.1% consensus forecast and pushing the annual rate to 3.7%.

Analysts at TD Securities note that the recent advance in precious metals does not necessarily imply a rapid challenge of all-time highs for Gold, citing ongoing market pricing and energy-related risks as reasons for caution.