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- Silver may struggle as hot US CPI data drives Fed December rate hike bets.
- Traders await Friday’s US October PPI report for further inflation clues, with headline expected at 6.6% YoY.
- President Trump quashed hopes for an Iran deal on Truth Social, stating those days have long passed.
Silver price (XAG/USD) gains ground after posting modest losses in the previous day, trading around $50.50 per troy ounce during Asian hours on Friday. However, Silver price may face challenges amid rising Treasury yields reflecting growing expectations of a more aggressive Federal Reserve (Fed) policy outlook.
Rabobank dissects shifts in the 10-year US Treasury yield in 2026
Analysts at Rabobank highlight that their latest work on US rates involves “a detailed decomposition of the 10yr UST yield and how it has changed in 2026,” using this breakdown of the 10-year US Treasury to frame a structured view of long-term yield dynamics and the drivers behind this year’s moves.
Stronger-than-expected US Consumer Price Index (CPI) inflation data released earlier this week has reinforced expectations of a Fed rate hike in December. Fed Governor Christopher Waller said that a 50-basis-point rate hike should be considered if core inflation remains elevated. Traders are now pricing in nearly 85.5% odds of a Fed rate hike when the central bank next meets December 8-9, and put the odds of a half-point hike at 14.5%, according to the CME FedWatch tool.
Attention will shift to Friday’s US Producer Price Index (PPI) report for further clues on inflation and the Fed’s decision on interest rates. The headline PPI is expected to show a rise of 6.6% YoY in October, while the core PPI is projected to show an increase of 5.0% YoY during the same report period.
Meanwhile, US President Donald Trump said on Thursday that the US should no longer seek a deal with Iran, per CNBC. “We don’t need a deal with Iran. Those days have long since passed,” Trump wrote in a Truth Social post.
