Silver Surges Amid Weakening US Dollar, Inflation Data Looms

The Silver price (XAG/USD) has risen by almost 1% to near $66.40 during the Asian trading session on Wednesday.

This increase comes as the US Dollar remains under pressure, despite expectations that the Federal Reserve (Fed) could raise interest rates at its policy meeting next week.

The US Dollar Index (DXY), which gauges the Greenback's value against six major currencies, trades slightly lower to near 98.76, close to its two-week low of 98.72 posted on Tuesday.

TD Securities believes core inflation likely continued to moderate in August, with a projected 2.3% year-over-year increase for the Consumer Price Index (CPI), down 10 basis points from July's reading.