Silver price whipsaws near $78 after CPI jolt as traders brace for Fed minutes
Spot silver jumped 3.4% to $77.70 an ounce Friday after U.S. inflation data came in softer than expected, trimming weekly losses to 0.3%. The rebound followed an 8.9% plunge Thursday triggered by strong jobs numbers and stop-loss selling. Markets now price in about 63 basis points of Fed rate cuts this year, with the first expected in July. Traders await Fed minutes Feb. 18 and U.S. GDP and PCE data Feb. 20.