• Silver price loses ground as US PCE Index data diminish odds of an aggressive Fed rate cut in September.
• According to the CME FedWatch Tool suggests a 70.0% chance of at least a 25 basis point Fed rate cut in September.
• Safe-haven Silver may come under downward pressure following widespread protests that erupted in Israel on Sunday.

Silver price (XAG/USD) extends its losses for the second consecutive session, trading around $28.50 per troy ounce during the early hours on Monday. This downside could be attributed to the improved risk sentiment following Friday’s US Personal Consumption Expenditures (PCE) Index data for July led traders to scale back expectations of an aggressive Federal Reserve rate cut in September.

Federal Reserve Atlanta President Raphael Bostic, a prominent hawk on the FOMC, indicated last week that it might be "time to move" on rate cuts due to further cooling inflation and a higher-than-expected unemployment rate. FXStreet’s FedTracker, which gauges the tone of Fed officials’ speeches on a dovish-to-hawkish scale from 0 to 10 using a custom AI model, rated Bostic’s words as neutral with a score of 5.6.