Silver Surges Amid Weaker US Dollar and Geopolitical Tensions

Silver prices surged on Wednesday, reaching $66.00 and gaining 2.18% for the day.

The white metal benefited from a decline in the US Dollar (USD) and US Treasury yields following the release of the latest United States inflation data.

US Consumer Price Index (CPI) rose 0.1% MoM in July, while the annual rate eased to 3.4% from 3.5%, both figures matching market expectations.

Core inflation increased 0.2% MoM and 2.5% YoY, also meeting forecasts.