Silver climbed back above $61 an ounce on Thursday, attempting to recover from near two-month lows after softer-than-expected US inflation data reduced expectations of a Federal Reserve rate hike in October. Gains were limited, however, by higher Treasury yields and a stronger dollar. US inflation rose less than expected in August, while the previous month’s price pressures were revised lower. Markets now see less than a 40% chance of an October hike, while still pricing in nearly a 90% probability of a December increase. 10-year Treasury yields reached their highest level since 2002, increasing the opportunity cost of holding non-yielding silver, while a firmer dollar also weighed on the metal. Focus now turns to Friday’s September nonfarm payrolls report, expected to show a gain of around 90,000 jobs, along with comments from Fed policymakers. US-Iran talks on reopening the Strait of Hormuz and ending the Middle East conflict also remain stalled.