Silver September futures reached $66.49 per ounce at 7:45 AM ET on Wednesday, after opening at $64.87 per ounce, down 0.1% from Tuesday's closing price. This increase occurred ahead of the release of the July CPI report, which is widely expected to show an easing of inflation in July compared to June. If the CPI report is mild, especially with core CPI under control, it will reduce the likelihood of the Federal Reserve raising interest rates in September, thereby further boosting silver prices in the short term.