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Forex

Silver Surges Over 2% as Geopolitical Tensions Persist

Guavy AI Editorial Team
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USD
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Silver prices surged more than 2% on Wednesday to around $66.00 as US inflation data met expectations and geopolitical tensions in the Middle East remained high.

The US Consumer Price Index (CPI) rose 0.1% month-over-month in July, while the annual rate eased to 3.4%, matching market forecasts.

A weaker US Dollar and lower US Treasury yields also supported silver prices, as investors sought safe-haven assets amid ongoing uncertainty over a lasting normalization of the situation in the Middle East and the reopening of the Strait of Hormuz.

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