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Silver Price Fails to Hold Above $80 as US Inflation Fears Pressure Metals
Silver prices turned lower at the start of the week as traders focused on a stronger U.S. dollar and the upcoming U.S. CPI report, which could heavily influence interest rate expectations. Silver Rally Reverses Ahead of CPI: Silver posted a strong recovery last week, briefly surging above the key $8 level on Thursday as momentum improved across precious metals. However, the rally quickly faded, with prices retreating lower into Monday’s Asian session and slipping back below that major resistance zone. The reversal came as the U.S. dollar strengthened sharply, rising nearly 1% and putting pressure on metals markets. ... (full story)