Silver prices recovered from a July low. The metal, traded as XAG, hit $54.77 in July. It now approaches $64 resistance.
A weaker U.S. dollar helped silver’s recovery. Traders also expect lower odds for a September interest rate hike. Stronger U.S. manufacturing data further supported the gains.
However, risks remain for the precious metal. An upcoming inflation report could impact prices. Volatile oil prices also pose a threat.
