Silver Rebounds on Weaker Dollar, Diminished Fed Rate Hike Expectations

Spot silver has rebounded from its lows in July, gaining about 1.5% on Monday as market participants awaited a breakout above $65.

The recovery was driven by a weaker U.S. dollar and diminished expectations of Federal Reserve rate hikes, which also supported precious metals like gold.

Recent U.S. economic data showed slowing inflation and consumption, leading markets to reduce bets on further near-term tightening by the Fed, which in turn weakened the dollar.

Silver's price has been consolidating around $65 for a week, resembling a technical buildup following a rally rather than a clear trend reversal.