Silver Price Hits New All-Time High Amid Cooler than Expected US Core CPI
Silver hit a record high while Bitcoin saw a modest surge following cooler-than-expected US Core CPI data for December.Summary
The US Bureau of Labor Statistics released December CPI data showing headline inflation at 2.7% annually, meeting expectations, but the Core CPI came in lower than anticipated at 2.6%. This cooler core inflation eased fears of aggressive Federal Reserve rate hikes, boosting liquidity and risk assets. Consequently, the spot silver price surpassed $87 per ounce, reaching a new all-time high, while Bitcoin briefly reclaimed $92,000. Despite the market reaction, analysts suggest that implied volatility has declined, indicating traders believe macroeconomic data may have less impact now. This sentiment is echoed by JPMorgan Chase CEO Jamie Dimon, who warned that markets are underappreciating potential hazards from geopolitical conditions and sticky inflation.
(Source：BeInCrypto)