Silver Price Faces Make-or-Break Week Ahead of Jackson Hole Fed Speech
The silver price trades near $69.38 after two failed attempts to break $70. Friday's weekly close will decide the next direction.
July inflation data arrives Wednesday, while Kevin Warsh delivers his first Jackson Hole address as Federal Reserve chair on Friday. Both land before the candle closes.
Dollar Weakness Meets a Hawkish Fed Risk
The US dollar has slipped to three-month lows after the Treasury announced bond buyback plans. Gold reached a three-month high on the same driver.
Silver has followed. The metal has gained roughly 18% over the past month and 78% over the past year. However, it remains down about 3.6% in 2026.
Traders now face an unusual setup. Markets are pricing in roughly 40% odds of a September rate hike, not a cut. Three regional Fed presidents dissented in favor of tighter policy in July.
Physical demand offers a floor. The silver market is heading for a sixth consecutive annual deficit, while COMEX inventories have fallen below 100 million ounces.
July PCE inflation data arrives Wednesday before the US open. Economists expect the headline rate to ease to 3.6% from 3.7%, while core inflation holds at 3.3%.
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