Silver recovered some of Tuesday’s decline during Asian trading Wednesday, with October U.S. inflation and a Federal Reserve governor’s rate signal putting December policy in focus.
FXStreet reported spot silver (XAG/USD) near the mid-$52s in an update at 10:53 p.m. ET Tuesday (03:53 UTC Wednesday), after a pullback from Tuesday’s high.
The U.S. Bureau of Labor Statistics (BLS) said the Consumer Price Index rose 0.4% from September on a seasonally adjusted basis. Core CPI, which excludes food and energy, rose 0.3% on the same basis. The overall monthly increase slowed from 0.6% in September, while core inflation matched its 0.3% rises in August and September.
Reuters reported that both increases were above forecasts in its economist survey: 0.3% for overall CPI and 0.2% for core CPI. The BLS said it could not publish 12-month percentage changes for most CPI series in the October release because it had not collected October 2025 survey data during a lapse in appropriations.
In a Nov. 10 speech before the CPI figures were released, Federal Reserve Governor Christopher Waller said he would support a 25-basis-point increase at the December meeting even if inflation improved. He said a 50-basis-point move should be considered if core CPI stayed around 0.3% or higher. A basis point is one-hundredth of a percentage point.
Reuters reported on Nov. 10, citing CME FedWatch data, that futures then implied an 85% chance of a 25-basis-point increase and a 15% chance of a 50-basis-point move.
FXStreet’s AI-assisted four-hour chart analysis placed resistance near $53 and the 100-period simple moving average at $53.05. It listed the Relative Strength Index at 52.62 and described the Moving Average Convergence Divergence reading as slightly negative. Earlier EconoTimes coverage tracked silver’s decline and a $50 chart level.
The BLS is scheduled to release October Producer Price Index data Friday, Nov. 13, at 8:30 a.m. ET (13:30 UTC). The Federal Open Market Committee’s (FOMC) next meeting is scheduled for Dec. 8-9.
