Silver Stuck Below $72 as Rate Hike Fears Mount

Silver prices have been struggling to break above $72 as fears of a rate hike in September weigh on investors' minds. The hawkish message from Jackson Hole has increased expectations of a rate hike, pushing the US dollar and Treasury yields higher.

This has put pressure on silver, keeping it trapped below its key resistance level at $72. However, analysts note that the long-term structure remains constructive above the $40 to $50 support area.

The next major move for silver will depend on upcoming US jobs and inflation data, as well as signals from the gold-silver price ratios.