Silver Teeters at Pivotal $66.51 Level Ahead of Crucial CPI Print

Silver prices have been stuck in a tight spot as investors await Wednesday's CPI print. The metal is currently hovering near $66, edging lower after giving back earlier gains.

The recent rally stalled at $66.48, just shy of the midpoint between the 50-day and 200-day moving averages at $66.51. This midpoint serves as a pivotal level for silver's next move, with a sustained break above it potentially signaling buyer strength.

On the other hand, a failure to surpass this key level could see sellers take control, pushing prices towards the 50-day MA at $61.75 or the long-term 50% level at $60.835.