Silver Price Stalls Amid Rising Interest Rates

The silver price has remained stable on Friday, despite the US Dollar's strong weekly rally. The dollar's modest pullback is providing some relief to the metal, but its upside remains limited due to rising interest rates and expectations of another Federal Reserve rate hike.

The CME FedWatch Tool indicates a 66% probability of another rate increase at the October meeting. Key economic data releases next week, including the US Personal Consumption Expenditures (PCE) inflation report, ISM Manufacturing Purchasing Managers' Index (PMI), and Nonfarm Payrolls (NFP), could influence these expectations.

Despite these headwinds, technical analysis suggests a somewhat constructive picture for silver. Momentum indicators are largely neutral, indicating that neither buyers nor sellers have control over the market. The Relative Strength Index (RSI) is hovering around the midline at 47, while the Moving Average Convergence Divergence (MACD) remains slightly negative.