Lates News

Analyst Giuseppe Dellamotta stated that since last Tuesday, silver has been steadily rising on the back of hopes stemming from the U.S.-Iran agreement, while the weaker-than-expected non-farm payroll report has also provided further support. However, the upward momentum seems to be waning and may require support from todays U.S. CPI data to continue the rally. The CPI data is crucial for the September FOMC decision and for Federal Reserve Chair Powell's speech at the Jackson Hole symposium. Market focus will be on the core CPI month-over-month data, which is expected to be 0.2%. If the data exceeds expectations, it may trigger short-term selling, leading traders to increase bets on interest rate hikes. Conversely, if the data is weak or meets expectations, it should further reduce the risk of the Federal Reserve tightening its policy and provide new upward momentum for silver.