Silver Rebounds Sharply After Inflation Data
Silver surged more than 4% to above $78.5 per ounce on Friday, clawing back part of Thursday’s sharp selloff after softer-than-expected US inflation, though it remained on track for a third straight weekly decline. The prior drop stemmed from broad cross-asset liquidation, as investors sold precious metals alongside equities and cryptocurrencies to raise cash. Data showed annual inflation slowed to 2.4% in January, below forecasts, while core inflation eased to 2.5%, reinforcing expectations that the Federal Reserve will cut rates later this year despite strong jobs figures earlier in the week that had pushed the first move toward midyear. The US 10-year yield retreated toward December lows and the dollar weakened after the release, offering near-term support. Still, lingering market volatility and policy uncertainty may limit gains, even as debasement concerns and prospective monetary easing underpin structural demand.