Global Market Movers: Comex Silver price holds retreat below $28.00 amid geopolitical tensions
- Comex Silver price holds correction below $28.00 despite the retreat in the US Dollar on Thursday.
- Precious metals’ traders overlook the US inflation report that came in hotter than expected.
- Data overnight showed higher US inflation in March, decimating the chance of a rate cut in June. Core CPI advanced 0.4%, above forecasts of a 0.3% rise.
- Fed Funds Futures market pushed expectations for the first rate cut from June to September, according to the CME FedWatch Tool.
- Rising industrial demand and escalating geopolitical tensions in the Middle East boost the Silver price.
- Israel and Hamas rejected ceasefire talks and Iran vowed retaliation for an airstrike on its embassy in Syria.
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