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American inflation impacts metals market
Silver prices are directly impacted by U.S. inflation and monetary policy expectations. After the release of September inflation data, which showed the Consumer Price Index rising by 0.6% month-over-month and 3.7% year-over-year, silver prices worldwide dropped by 6.6%. The price of an ounce of silver fell from about $61 to $57. Additionally, the price of 999 purity silver per gram declined to 101.5 EGP, and the price of an ounce in the local market also decreased due to the rising dollar and ongoing inflationary pressures. This poses a threat to the continuation of the decline in silver prices, with possible scenarios including further decline, recovery, or fluctuation, depending on developments in inflation rates, interest rates, and future economic activity.
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