Spot Silver held near the $38 mark on Friday, weighed down by a stronger US Dollar, while market players focused on Fed Chair Jerome Powell’s speech at the annual symposium in Jackson Hole, Wyoming, for cues on policy outlook.
Powell is to speak at 14:00 GMT today.
The US Dollar Index held near a fresh two-week high of 98.834. A firmer dollar makes dollar-priced Silver less appealing to international investors holding other currencies.
The minutes from the Fed’s meeting in July showed that most policy makers remained more concerned about persistent inflation pressures than about labor market risks.
Markets are now pricing in about a 75% chance of a 25 basis point rate cut in September.
Silver was last down 0.23% on the day to trade at $38.06 per troy ounce.
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