PCE Data

The iShares Silver Trust ETF remains caught inside a major long term retracement zone as buyers struggle to build momentum above key moving averages. Firm Treasury yields, a stronger dollar and lingering December Federal Reserve expectations continue to limit the recovery attempt.

Silver staged a sharp intraday recovery after falling to $60.30 and reclaiming important support near $60.84 and $61.04. The next test comes from PCE inflation data and payrolls, with dollar strength and elevated Treasury yields still challenging follow-through buying.

The Federal Reserve’s decision to hold rates removed the immediate surprise risk markets had feared, but three dissents for tighter policy kept the policy outlook unsettled. Stocks, the dollar, gold and silver all reacted unevenly as traders shifted attention to upcoming inflation, jobs, GDP and PCE data.

Bitcoin’s latest advance has lost momentum as investors reassess the meaning of softer U.S. inflation data for Federal Reserve policy. With producer price data due later today and oil prices pressuring the inflation outlook, crypto traders are watching macro signals closely.