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Silver Rose As Markets Opted To Keep Their Bets On Rate Cut By Fed In June.
Silver demonstrated a significant surge yesterday, closing up by 1.79% at 75170, driven by market anticipation of the first interest rate cut by the Federal Reserve in June. However, doubts emerged regarding this expectation due to unexpectedly persistent inflation data in the United States for February. The monthly core inflation data exceeded expectations, rising by 0.4%, while the annual core CPI stood at 3.8%, higher than anticipated but slightly lower than the previous reading. Fed policymakers closely monitor core inflation figures as they strip off volatile components like food and energy prices, providing a clearer picture of underlying inflationary pressures.
