Silver September futures opened at $65.46 per ounce on Thursday, down 0.4% from Wednesday's closing price of $65.70. As of 8:11 AM ET, silver prices edged lower to $65.23. Silver's year-over-year gain has reached 70.2% ahead of the Producer Price Index (PPI) report. The upcoming PPI report will be another important signal to help determine the Federal Reserve's actions after next month's interest rate meeting. Previously, Yahoo Finance Federal Reserve reporter Jennifer Schonberger stated that the cooling CPI data released on Wednesday supports the Federal Reserve's reason to wait, and given that inflation has cooled for two consecutive months, a September rate hike by the Federal Reserve is unlikely.