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Silver slides near $67.50 ahead of US PCE, Jackson Hole

Silver was down 1.4% on the day near $67.50, with investors watching core PCE expected at 3.4% year over year and shifts in US private hiring signals from ADP.

Reported · Written up by our desk · Major Pairs

Silver extended its decline on Tuesday, trading around $67.50 and down 1.4% for the day, as investors stayed cautious ahead of Wednesday’s release of the United States Personal Consumption Expenditures, or PCE, Price Index, and as attention turned to the Jackson Hole Symposium, according to FXStreet.

The report noted that core PCE, the Federal Reserve’s preferred gauge for price pressures, is expected to hold steady at 3.4% year over year in July. FXStreet said a hotter-than-expected reading could raise concerns about tighter monetary policy and weigh on silver, while easing inflation could support expectations for a Fed hold and help precious metals.

FXStreet also pointed to US labor market signals, citing that the four-week average of ADP Employment Change is projected to rise to 11.75K jobs per week in early August from 9.5K previously, which suggests some recovery in private-sector hiring even if it does not fully remove concerns about the economy.

Beyond macro data, FXStreet cited potentially supportive factors for silver, including US fiscal-related developments that could affect liquidity and yields, geopolitical uncertainty from expanded sanctions affecting Iran, and ongoing industrial demand tied to the green energy transition, electric vehicles, and artificial intelligence data centers. Technically, it said silver remained below the 100-hour simple moving average near $68.01 while holding above the 200-hour average around $66.

Latest closeSilver $64.83 ▼0.1%

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