Silver Tumbles on Strong US Data, Fed Rate Hike Odds Slip

Silver prices continued their decline on Wednesday, dipping toward $68 an ounce as investors processed fresh US economic data.

The PCE price index rose 0.2% in July, exceeding expectations of a 0.1% increase, while annual inflation reached 3.7%, slightly above forecasts of 3.6%.

This data suggests that the Federal Reserve may keep interest rates unchanged next month, with markets now pricing around a 60% chance, down from 64% before the data.