Forex
Silver Prices Jump Over 2% as Inflation Data Meets Expectations
Silver prices surged more than 2% on Wednesday, reaching $66.00 at one point.
The gains were driven by a decline in US Treasury yields and a weaker US Dollar following the release of July's inflation data from the United States.
The Consumer Price Index (CPI) rose 0.1% month-over-month but eased to an annual rate of 3.4%, meeting market expectations.
A senior Iranian source told Reuters that no discussions are currently taking place over extending a ceasefire between Iran and the US, maintaining uncertainty in the Middle East and supporting demand for safe-haven assets like Silver.