Silver price whipsaws near $78 after CPI jolt as traders brace for Fed minutes
After a wild stretch, silver bounced back Friday, jumping 3.4% to $77.70 an ounce as softer U.S. inflation numbers reignited talk of Fed rate cuts. Still, the metal was heading for a slight 0.3% loss on the week. LSEG data pinned the odds at around 63 basis points of rate cuts by year-end, with markets leaning toward July for the first move. “Gold, and particularly silver, is enjoying a relief rally after a mild January CPI reading eased nerves,” said Tai Wong, an independent metals trader.
