Silver Holds Drop Ahead of US CPI Report

2026-09-11 00:15 By Jam Kaimo Samonte 1 min. read

Silver traded around $63.5 an ounce on Friday after tumbling over 5% in the previous session, as investors braced for the US consumer price index report that could reinforce expectations for a Federal Reserve rate hike next week.

Data released Thursday showed US producer prices accelerated in August as the Iran war pushed wholesale energy costs higher.

Markets are now pricing in roughly a 71% probability of a 25-basis-point Fed rate increase next week, up from 61% before the PPI data.

Silver also faced pressure from surging oil prices amid the escalating US-Iran conflict, fueling concerns over rising inflation.

Meanwhile, Treasury yields jumped following lower-than-expected purchases by the US Treasury Department during its first expanded buyback operation.

Non-interest-bearing assets such as silver tend to underperform when yields rise.

Silver is on track to lose about 4% this week, marking its third straight weekly decline.



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Silver Holds Drop Ahead of US CPI Report
Silver traded around $63.5 an ounce on Friday after tumbling over 5% in the previous session, as investors braced for the US consumer price index report that could reinforce expectations for a Federal Reserve rate hike next week. Data released Thursday showed US producer prices accelerated in August as the Iran war pushed wholesale energy costs higher. Markets are now pricing in roughly a 71% probability of a 25-basis-point Fed rate increase next week, up from 61% before the PPI data. Silver also faced pressure from surging oil prices amid the escalating US-Iran conflict, fueling concerns over rising inflation. Meanwhile, Treasury yields jumped following lower-than-expected purchases by the US Treasury Department during its first expanded buyback operation. Non-interest-bearing assets such as silver tend to underperform when yields rise. Silver is on track to lose about 4% this week, marking its third straight weekly decline.
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Silver Slides as Fed Rate Hike Bets Surge
Silver tumbled around 4% to $64.5 an ounce on Thursday as traders increased their bets on a Federal Reserve rate hike next week following stronger-than-expected US producer price data. US PPI rose 0.4% in August, while annual producer inflation accelerated to 5.4%, surpassing market expectations of 5.3%, driven by a sharp rise in energy prices, alongside evidence of stronger cost pass-through across other sectors. The data came as oil prices rallied again amid escalating US-Iran strikes in the Middle East, reinforcing expectations for tighter monetary policy and prompting markets to price in a more than 70% chance of a Federal Reserve rate hike on September 16. Meanwhile, traders also increased their bets on further European Central Bank tightening after the central bank raised borrowing costs as expected and warned that inflation risks remained tilted to the upside.
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Silver Holds Gain Ahead of US Inflation Data
Silver traded above $67 an ounce on Thursday, holding gains from the previous session as investors awaited key US inflation readings that could provide further insight into the Federal Reserve’s next policy move. The US producer price index report for August is due later today, followed by the consumer inflation report on Friday. Precious metals found support from a weaker dollar, as well as continued demand for their long-term hedging appeal despite near-term pressure from higher oil prices and bond yields. Oil prices climbed to multi-month highs as the US-Iran conflict intensified, stoking inflation concerns and strengthening expectations for near-term rate hikes. US Treasury yields also moved higher after the Treasury Department announced plans to buy back up to $6 billion in longer-term debt, disappointing some investors who had expected a more substantial increase.
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