Silver Price Today Near $50 as October PPI Rises 0.3%
By Abdelaziz Fathi
AI summary of the source article
Silver traded near $49.91 per ounce following the release of the October Producer Price Index, which rose 0.3% month-over-month. Despite softer-than-expected monthly producer inflation, traders continued pricing in a Federal Reserve interest rate increase for December.
Why it matters
A below-forecast inflation report would ordinarily provide some support to non-yielding precious metals by reducing expectations of aggressive monetary tightening.
Key facts
- US October PPI rose 0.3% month over month and 6.5% year over year, below forecasts of 0.4% and 6.6%.
- Silver traded at $49.91 per troy ounce, down 0.2%, staying near the $50 threshold.
- Traders priced in an 89.4% probability of a 25-basis-point Federal Reserve interest-rate hike in December.
Source excerpt · FinanceFeeds
Silver price today was trading at $49.91 per troy ounce, down 0.2%, at 9:50 a.m. ET on Friday, November 13, after US producer inflation came in slightly below forecasts. The Bureau of Labor Statistics reported that the October Producer Price Index (PPI) rose 0.3% month over month and 6.5% year over year, against expectations of 0.4% and 6.6%, respectively. The softer monthly reading provided some…