Silver Slumps Amid Hawkish Fed, Rising Odds of Rate Hike

Silver prices have fallen to near $64.10 per troy ounce, extending their two-day losing streak amid Asian trading on Thursday.

The market-implied odds of a 25-basis-point Federal Reserve rate hike in October have risen to 69.7%, up from 48.7% a week earlier.

This hawkish shift in rate expectations, combined with firm US PMI data and geopolitical risks supporting higher crude prices, has reinforced the expectation of prolonged monetary tightening.