Silver Slumps on Fed Rate Hike Expectations

Silver prices fell by more than 2% to around $57.5 an ounce on Friday, marking its first monthly loss in July as the US dollar rebounded from a one-month low.

The decline was largely due to expectations of tighter Federal Reserve policy, with markets currently giving a 65% chance of a rate hike in September and another increase expected by June 2027.

Despite softer US inflation data and unchanged interest rates, the three policymakers who dissented at this week's meeting reiterated that further tightening is needed.