However, yields have since pulled back as traders await Thursday’s PPI release for further clarity on inflation trends. A lower-than-expected PPI reading could ease rate hike fears, providing additional support for gold and silver. Conversely, stronger wholesale inflation could lift yields and pressure metals prices.
Silver Market Outlook: Awaiting a Breakout
Silver’s near-term outlook hinges on whether it can clear resistance at $32.65. A decisive move above this level could open the door to a rally toward $34.87. However, failure to break higher may lead to renewed selling, especially if gold struggles to maintain its rebound or if inflation data lifts Treasury yields.
Traders should closely monitor gold’s price action, inflation reports, and Fed rate expectations. With silver holding above key moving averages, the bullish trend remains intact, but a breakout catalyst is needed for the next leg higher.
More Information in our Consumer Price Index (CPI).
