Silver Gains Ahead of US CPI Report

2026-08-12 01:00 By Jam Kaimo Samonte 1 min. read

Silver climbed toward $66 an ounce on Wednesday, reversing losses from the previous session as investors prepared for key US inflation data that could provide fresh clues on the Federal Reserve’s policy outlook.

Markets remain divided over whether the Fed will raise rates by 25 basis points in September after keeping them unchanged in July, with rising oil prices reinforcing a hawkish bias.

Meanwhile, traders assessed the prospects of a US-Iran deal to reopen the Strait of Hormuz amid shifting signals.

Pakistan’s defense minister said Washington and Tehran are “close to some sort of arrangement” over the strait, while reports indicated that talks between Iran and Oman have reached an advanced stage.

Elsewhere, silver remained supported by solid industrial consumption, particularly from expanding solar panel manufacturing and electricity grid development.

Recent data showed Chinese imports of silver-bearing ores jumped 62.5% year-on-year in June to 219,000 tonnes.



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