Silver Down Slightly As CPI Comes In Hotter Than Expected

#Silver Down Slightly As #CPI Comes In Hotter Than Expected

The latest Consumer Price Inflation reading came out this morning, and showed that prices rose at a higher rate than in July, and slightly above expectations. Which has left #gold and silver slightly lower in Wednesday morning trading.

The key driver last month has been rising energy prices, as oil is now up at the $90 level following production cut extensions from Saudi Arabia and Russia last week. Of course one of the main drivers in the lower CPI readings over the past year was lower energy prices, and now the increased level is the latest impediment in the Fed's quest to bring inflation down.

The Fed is meeting again next Wednesday, with the markets pricing in a 97% chance of another pause. Yet this latest data leaves a murkier picture going forward as to whether the Fed will hike again later this year, and pushes out the timeline of when they will begin cutting. Leaving gold and silver slightly lower on the day, and on the lower end of the range they've traded in over the past few months following the banking crisis earlier this year.

Meanwhile, the signs of economic weakening continue to emerge, which is one of the reasons that many in the markets still expect that rate cuts are not that far away. All of which is covered in today's show.

So to find out the latest news affecting the silver market, click to watch this video now!

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