Last Updated on 13/08/2026
- Silver prices remain range-bound near $65.40 as investors await the release of US Producer Price Index (PPI) figures.
- Softer-than-expected US inflation readings for July have prompted markets to scale back expectations of a more hawkish Federal Reserve.
- Both headline and core Consumer Price Index (CPI) measures in the United States eased in line with forecasts.
Silver (XAG/USD) traded within a narrow range around $65.40 during Thursday’s Asian session, with investors awaiting fresh direction from upcoming US economic data. While price action remained subdued, easing inflationary pressures in the United States have continued to support the metal’s broader outlook.
Data released by the US Bureau of Labor Statistics on Wednesday showed that headline Consumer Price Index (CPI) inflation slowed to 3.4% year-over-year in July from 3.5% in June. Core CPI, which excludes food and energy prices, also eased to 2.5% from 2.6%, matching market expectations.
The softer inflation readings have reinforced expectations that the Federal Reserve may refrain from raising interest rates further in the near term. According to CME FedWatch data, the probability of the Fed leaving rates unchanged at its September meeting has climbed to nearly 60%, compared with just 30.4% a month earlier.
A less aggressive monetary policy outlook tends to benefit non-yielding assets such as Silver, as lower interest rate expectations reduce the opportunity cost of holding precious metals.
Market participants now turn their attention to the US Producer Price Index (PPI) report for July, scheduled for release at 12:30 GMT, which could provide additional clues about the inflation trend and the Fed’s policy path.
Silver Technical Analysis
Silver continues to consolidate around $65.40 while maintaining a positive technical structure above the 20-day Exponential Moving Average (EMA) at $61.66. Holding above this key short-term trend indicator suggests that buying interest remains intact despite the recent pause in upward momentum.
The 14-day Relative Strength Index (RSI) stands at 61.17, remaining in bullish territory while still below overbought levels, indicating there is room for further gains if buying pressure strengthens.
On the downside, the 20-day EMA at $61.66 serves as immediate support and remains the key level to watch. A decisive break below this area could trigger a deeper correction. On the upside, a breakout above the current consolidation zone and resistance at $66.59 could pave the way for a move toward the June 16 peak near $71.19.
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