Spot Silver edged up on Tuesday, following a 1.8% drop in the prior session, ahead of the key US CPI inflation report that may provide further clues over the Federal Reserve’s monetary easing path.
Annual core CPI inflation probably picked up to 3% in July, according to market consensus, from 2.9% in June.
Markets are now pricing in an 85% chance of a 25 basis point rate cut in September amid signs of a weakening labor market.
Fed Governor Michelle Bowman said over the weekend that the recent weak jobs report supported her view that three rate cuts would likely be appropriate this year.
Meanwhile, US President Donald Trump is to meet Russia’s President Vladimir Putin on August 15th in Alaska to discuss an end to the conflict in Ukraine.
Silver was last up 0.26% on the day to trade at $37.72 per troy ounce.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
