Silver prices were steady in the European session on Wednesday (6/10). The white metal consolidated as investors awaited the US Consumer Price Index (CPI) data for May, which will be published at 12:30 GMT.
Economists expect US headline inflation to accelerate to 2.5% annually, compared to 2.3% in April. In the same period, core CPI – which excludes volatile food and energy prices – grew by 2.9%, faster than the previous release of 2.8%. On a monthly basis, headline and core CPI are expected to grow by 0.2% and 0.3%, respectively.
The rising price pressure scenario will allow Federal Reserve (Fed) officials to maintain their stance on keeping interest rates at current levels for quite some time until they gain clarity on how much the new economic policies of US President Donald Trump will impact the economic outlook and inflation.
Source: Newsmaker.id
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