Silver traded near $69.38 after two failed attempts to break $70, with Friday’s weekly close seen as key for the next move. According to BeInCrypto, July inflation data on Wednesday and Kevin Warsh’s first Jackson Hole address as Federal Reserve chair on Friday could shape rate expectations and cap or extend the metal’s rally.

The dollar has fallen to three-month lows, while silver has gained about 18% in the past month and 78% over the past year. Traders are pricing roughly 40% odds of a September rate hike, not a cut, even as physical demand stays firm and COMEX inventories drop below 100 million ounces.