Silver prices rose to $65.14 per ounce on Friday, after weaker inflation data this week reduced expectations of a September interest rate hike by the Federal Reserve.
Silver futures opened lower on Friday but rebounded above $65 in early trading, reaching a high of $65.14 per ounce. The market generally believes that the weak inflation data released this week has reduced expectations for the Federal Reserve to raise interest rates in September. According to the latest data from the CME Group FedWatch tool, the probability of the Federal Reserve keeping interest rates unchanged in September is 69.4%.
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