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Silver Price Takes Hit from Imminent Rate Hike Bets
Silver prices (XAG/USD) began Monday at a bearish gap but managed to inch higher, trading around $66.10 per troy ounce during Asian hours.
The silver price remains under pressure due to expectations of an imminent Federal Reserve interest rate hike, following stronger-than-expected US employment data.
The August Nonfarm Payrolls rose by 162,000, significantly outperforming the 56,000 forecast, and the unemployment rate held steady at 4.1%.
Fed's Hammack delivered a notably more hawkish message, with a 9.2/10 FXS Speechtracker score well above the historical average, signaling a clear shift toward tighter policy rhetoric.