Silver Rallies as USD Post-CPI Gains Fizzle Out

The Silver price rebounded on Friday, climbing above $64.30 as the US Dollar's post-CPI gains faltered.

The metal initially fell to a three-week low of $62.94 in reaction to the latest US inflation figures from the Bureau of Labor Statistics (BLS), which showed a 3.4% YoY increase in August, matching market expectations.

However, underlying core inflation eased to 2.4% from 2.5% in July, and annual headline inflation remained unchanged.

This moderation in inflation data allowed Silver to recover rapidly, as the USD struggled to retain its gains.