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Precious Metals Surge As Softer U.S. Inflation And Political Risks Reinforce Haven Demand
Silver surged to an all-time high, rising as much as 2.5% to $89.1644 an ounce, while gold traded close to its own record levels. The rally followed U.S. inflation data that came in softer than feared, reinforcing expectations that the Federal Reserve may have room to ease policy further. Although economists cautioned that December’s underlying inflation was artificially depressed by distortions linked to last year’s record-long government shutdown, the data nonetheless shifted near-term expectations toward a more accommodative policy path. This represents a causal relationship, as lower inflation readings ... (full story)