Silver Price Hovers Above $64.1 Amid Fed Rate Hike Expectations

The price of Silver (XAG) has been trading at $64.13, marking a modest daily gain.

This increase comes as expectations for a Federal Reserve rate hike in September rise, making it more expensive to hold non-yielding assets like Silver.

The asset's technical indicators are mixed, with the Ichimoku Kijun sitting at $64.9, presenting immediate resistance for any upside moves.

Silver remains in a medium- and long-term bearish trend, with weak momentum signals indicating that it may trade between $63.02 and $65.16 over the next few sessions.