Strong US Dollar Caps Silver Gains Amid Inflation Data
The US Dollar (USD) strengthened after the latest United States inflation data showed that the Personal Consumption Expenditures (PCE) Price Index rose 0.2% month-over-month in July, above expectations.
This led to selling pressure on Silver (XAG/USD), which traded around $67.79, down nearly 1.26% on the day.
The US Dollar Index (DXY) also rose 0.30% to around 99.20, giving the USD a modest lift after its recent weakness.