Silver prices rose 1% to around $38.30 an ounce on Wednesday (August 13), strengthening for the second straight session as the latest US inflation data reinforced expectations of a Fed rate cut next month.
Headline inflation held steady at 2.7%, beating projections for a rate hike to 2.8%, while core inflation edged up to 3.1%, its highest level in six months. Markets currently price in a 94% probability of a 25 basis point rate cut in September, with another rate cut before the end of the year also reflected in expectations.
Meanwhile, investors await this week's US-Russia talks in Alaska regarding the war in Ukraine. The White House described the planned meeting between President Donald Trump and Vladimir Putin as a "listening exercise for the president," dampening hopes for a breakthrough ceasefire agreement. (alg)
Source: Trading Economics
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