Silver Holds Ground Ahead of Crucial Inflation Data

Silver prices held steady above $68 an ounce on Wednesday as investors awaited the latest US PCE price index report, the Federal Reserve's preferred measure of inflation.

The metal has been trading near two-month highs, with attention also focused on Fed Chair Kevin Warsh's speech at the annual Jackson Hole symposium on Friday. However, it is unlikely that he will provide clear guidance on the central bank's policy decision in September.

The US Treasury's decision to double liquidity-support buyback operations for longer-dated notes and bonds has also been contributing to the bullish outlook for precious metals. This move helped push the dollar to a more than three-month low last week.