RE: Silver is on the brink of a major breakout13 Apr 2023 07:39
Silver futures surged to a one-year high of 25.6 per ounce in April, tracking the rise in other bullion assets as US inflation slowed more than markets expected, raising hopes that the Federal Reserve may hasten its eventual dovish pivot. Consumer prices rose by 5% annually in March, below market expectations of a 5.2% increase and considerably below the 6% in the previous month. Along with evidence of a softening job market from last week, the result bolstered bets that the Federal Reserve will start cutting interest rates by the third quarter, lifting demand for non-interest-bearing precious metal investments. Additionally, a report from Ember showed that wind and solar energy represented a record-breaking 12% of electricity generation last year, underscoring strong demand for silver as an industrial input.
https://tradingeconomics.com/commodity/silver