Silver on track for first weekly profit in four, dollar off two-month lows

Silver futures titled higher in American trade to September 4 highs even as the dollar index rebounded from July 9 lows, following earlier data from the US, the world's largest economy. 

As of 05:57 GMT, silver futures due in December rose 0.21% to $14.34 an ounce, marking two-week highs, while the dollar index climbed 0.36% to 94.25 away from ten-week lows. 

Earlier US data showed the flash manufacturing PMI up to 55.6 from 54.7 in August, beating estimates of 55.1, while the services PMI receded to 52.9 from 54.8, missing estimates of 54.9. 

Markets also look forward to the Federal Open Market Committee's September 25-26 policy meeting in Washington, with analysts betting on another 0.25% rate hike to just below 2.25%. 

The FOMC will also release three-year forecasts for inflation, growth, unemployment, and interest rates, and potentially hints about the upcoming rate hike, expected in December.