Commodities
Silver Prices Surge Towards $65 Amid Inflation Pressures
Precious metals have seen renewed volatility in recent days as spot silver prices rebounded towards $65.
The recovery came after spot silver bottomed at a low of $63.15, navigating headwinds from higher interest rate expectations and surging crude oil costs.
The closure of the Strait of Hormuz and the Bab el-Mandeb Strait, combined with drone attacks disabling key pipeline infrastructure, pushed Brent crude past $103 per barrel, exacerbating global inflationary pressures.
A stronger consumer price index was released on Friday, showing core inflation rising at its fastest monthly pace in four months, leading market participants to anticipate a 25-basis-point interest rate increase from the Federal Reserve.