Silver Surges 2.3% as US Inflation Matches Expectations

Silver prices surged more than 2% on Tuesday after the US inflation report matched economists' forecasts. The data showed a continued slowdown in price pressures, with inflation remaining above the Federal Reserve's 2% target.

The Fed's policy path appeared less likely to accelerate interest rate hikes, which typically supports precious metals like silver. Spot silver was trading at around $24.50 per ounce, up 2.3% from the previous close, following the inflation release.

Silver's gains outpaced gold, which rose 0.8% during the same period. The metal's price is influenced by both economic growth and investment demand due to its dual role as an industrial commodity and a monetary metal.