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Silver tops $66 as investors look ahead to July CPI
September silver futures last traded around $66.5 per ounce early Wednesday, after moving above $66 for the first time since June.
Silver prices rose Wednesday, pushing above $66 per ounce for the first time since June as traders positioned for the upcoming July CPI report, according to Yahoo Finance.
On Wednesday, September silver futures opened at $64.87 per ounce, down 0.1% from Tuesday’s close, but climbed to $66.49 as of 7:45 a.m. ET.
The report said expectations center on easing inflation in July versus June, with a particular focus on whether “core” CPI remains under control, which could reduce the likelihood of a Fed rate increase in September and support silver prices in the near term.
The article also noted silver’s market sensitivity to industrial demand, including uses in solar panels, electronics, and medical devices.
Latest closeSilver $64.53 ▼1.6%