Softer US Inflation Boosts Silver Near $65.40

Silver prices are hovering around $65.40 against the US Dollar in Asian trading on Thursday, as investors react to the latest US inflation data.

The Bureau of Labor Statistics reported that July's headline Consumer Price Index (CPI) slowed to 3.4% year-on-year from 3.5% in June, while core CPI moderated to 2.5% year-on-year, down from 2.6% previously.

This easing inflation has reduced concerns about the Federal Reserve raising interest rates again soon, with the CME FedWatch tool indicating a nearly 60% probability of leaving rates unchanged at its September meeting.