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Home Spot Silver Silver Prices Stabilize Amid Strong US Inflation Data

Silver Prices Stabilize Amid Strong US Inflation Data

by anna

The reversal in Silver prices (XAG/USD) following robust US inflation data has found support around the mid-range of the $27.00 level. As the initial market reaction settles, the metal is showing signs of regaining ground, with the daily chart indicating a relatively flat trajectory.

In March, consumer prices in the US accelerated unexpectedly, with headline inflation reaching 0.4%, surpassing expectations of a 0.3% increase. Additionally, the annual inflation rate rose to 3.5% from February’s 3.2%. Core inflation, which excludes volatile food and energy prices, also saw a similar uptick, climbing to 0.4% from the previous month, while the yearly rate held steady at 3.8%.

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These figures underscore the persistence of elevated price pressures well above the Federal Reserve’s 2% target rate, dampening hopes of monetary easing in the near term.

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Following the release, US Treasury yields experienced a sharp increase, propelling the US Dollar higher. However, the impact on precious metals, including Silver, has been relatively contained. Silver has managed to retrace most of its losses post-release and is currently trading near the daily opening level.

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