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Forex

Silver Surges Past $62 as Inflation Pressures Ease

Guavy AI Editorial Team
Instruments
USD
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Silver prices have broken above $62.00 per ounce as inflation pressures ease, boosting demand for the precious metal.

The latest US Consumer Price Index (CPI) report showed a slower-than-expected rise in inflation, reducing concerns about aggressive Federal Reserve rate hikes.

This has weakened the US dollar and made dollar-denominated commodities like silver more attractive to international buyers.

Technical analysis shows that XAG/USD breaking above $62.00 signals bullish momentum, with the next resistance zone near $63.50.

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