September silver futures rise above $65 after softer inflation data boosts expectations of a Fed pause in September.
Silver September futures climbed to $65.14 per ounce in early trading on August 14, 2026, reversing an initial dip to $64.63. The move follows softer inflation reports this week, which have reduced bets on a Federal Reserve rate hike next month.
The CME Group’s FedWatch tool now shows a 69.4% probability the Fed will hold rates steady in September, up from 42% a month ago. Still, 30.6% of economists expect a 25-basis-point increase, down from 50% previously. Silver, which does not yield interest, tends to benefit from lower rate expectations.
Year-over-year, silver prices have surged 70.2%, though growth has slowed from 173.3% in mid-May. Futures opened 0.6% lower Friday but remain 1.6% higher than a week ago and 12.1% above last month’s levels.