Home›Commodities›Precious Metals›Silver holds near $61.45 ahead of US PCE inflation data

Silver holds near $61.45 ahead of US PCE inflation data

Silver is trading around $61.45 in Europe, as markets look to US PCE data due at 12:30 GMT that could shift Federal Reserve rate expectations.

Reported · Written up by our desk · Precious Metals

Silver prices are trading in a tight range around $61.45 during the European session, with investors waiting on upcoming US inflation data. FXStreet said the focus is on the United States Personal Consumption Expenditure (PCE) Price Index for August, scheduled for release at 12:30 GMT.

FXStreet reported that market attention is centered on whether PCE points to higher price pressures, which Federal Reserve officials have flagged as a key concern. The outlet also noted that Fed policymakers have attributed inflationary pressures to both energy supply shocks and strong demand tied to artificial intelligence.

According to FXStreet, core PCE inflation is expected to have stayed steady at 3.3% year on year, while the monthly reading is forecast to rise 0.3%, versus 0.2% in the prior figure. FXStreet added that the data is expected to influence the Fed’s interest rate outlook.

FXStreet also said markets are confident the Fed will continue its monetary-tightening cycle later this year. The outlet cited TD Securities, which argued that an October rate hike looks more likely.

Latest closeSilver $60.95 ▼5.1%

More like this

Sources