Silver Holds Steady at $64 Amid Slashed Rate Hike Bets
Silver prices held steady near $64 an ounce on August 14 as traders recalibrated expectations for the Federal Reserve's next policy move. The precious metal was little changed, with spot prices hovering around $64.55, following Thursday's 0.9% decline that mirrored a broader retreat across the precious metals complex.
The market's attention has shifted decisively toward the Fed's September meeting, where the probability of a rate hike has collapsed to roughly one in three, according to the CME FedWatch Tool. This marks a dramatic reversal from just a week ago, when traders assigned approximately 55% odds to a hike.
Gold, which had surged to $4,449.39 an ounce on Thursday, its highest level since June 5, gave back 1.2% to settle near $4,354 as investors locked in profits from a weekly gain of about 9%. The pullback underscored the tension between the metal's recent momentum and the absence of a fresh catalyst to sustain the rally.