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Silver Rises to $65.70 on Soft U.S. Data as Industrial Outlook Clouds Gains

Silver climbed to $65.70 an ounce on Monday, extending a rebound from last week's pullback as softer U.S. economic data pushed back expectations for a Federal R…

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Silver Rises to $65.70 on Soft U.S. Data as Industrial Outlook Clouds Gains
Article image: Silver Rises to $65.70 on Soft U.S. Data as Industrial Outlook Clouds Gains

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Excerpts from the article

  • Silver climbed to $65.70 an ounce on Monday, extending a rebound from last week's pullback as softer U.S. economic data pushed back expectations for…
  • At 8:05 a.m. ET, the spot price was up 1.56%, or $1.01, from the previous close of $64.70, according to market data cited by USA Today. Fortune…
  • The advance follows a run of U.S. reports that cooled the case for tighter policy. July CPI eased to 3.4% year-over-year from 3.5% in June, marking…

Markets now await the FOMC meeting minutes and Fed Chair Kevin Warsh's Jackson Hole speech for the next directional cue. Whether silver can convert its dual identity — monetary hedge and industrial input — into a sustained break above $66.80, or whether fading rate-hike odds prove transient, will decide if the current rally has legs or is merely a shakeout.

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