Silver Rallies as Dollar Weakens Amid Central Bank Rate Hikes

Silver prices rebounded on Wednesday after a two-session decline, rising to around $66.5 an ounce as the dollar weakened.

The greenback's decline made silver more affordable for buyers using other currencies, which drove the increase in price.

The dollar's weakness was largely attributed to the Japanese yen's sharp appreciation this month, along with cautious investor positioning ahead of several major central bank decisions.

The US Federal Reserve, European Central Bank, and Bank of Japan are all expected to raise interest rates this month, which has investors awaiting key US inflation data for additional clues on the Fed's policy outlook.