Silver Rebounds Near $53 Despite Hot US CPI and Fed Rate Hike Bets

Silver advanced nearly 3% toward $53.00, rebounding from an earlier drop to near $52.20 despite hotter-than-expected US inflation data and rising bond yields. The recovery comes after Federal Reserve Governor Christopher Waller indicated he would support a 25-basis-point interest rate increase in December and raised the prospect of a 50-basis-point hike if monthly core CPI hit 0.3% or higher. October core CPI subsequently printed at 0.30% month-over-month, pushing 10-year US Treasury yields up 2.4% to around 5.0% and lifting the US Dollar Index above 101.70.