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Silver edges lower as hawkish Fed expectations counter softer US inflation

Silver is around $57.5 an ounce, down 1.9% on the day, even as the US Dollar eases after June CPI and PPI both broadly missed expectations.

Reported · Written up by our desk · Major Pairs

Silver prices slipped on Wednesday, with XAG/USD trading near $57.55, down 1.9% on the day, as hawkish expectations around the Federal Reserve continued to weigh on the metal.

FXStreet said June US CPI and PPI data broadly missed market expectations, reducing pressure for an imminent Fed hike and trimming the US Dollar Index (DXY), which was around 100.46 after falling from an intraday high of 101.03.

The outlet noted, however, that inflation risks remain in the backdrop, pointing to oil price strength tied to renewed fighting in the Middle East and to the possibility that tariffs, the conflict, and strong AI investment could keep price pressures elevated.

Technically, FXStreet reported silver holds a bearish bias because it is below the 50-, 100-, and 200-period simple moving averages, with resistance clustered near the 100-period SMA around $59.42 and $59.57, and a potential support base forming in the $55.50 to $56.00 area.

Latest closeSilver $59.08 ▲2.5%|Dollar index 100.94 ▼0.3%

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