Silver prices recover from oversold conditions after PPI release; spot trading turns active [SMM Daily Review]
[SMM Daily Review: Silver Prices Recover from Oversold Levels After PPI Release; Spot Trading Turns Active] SMM, October 16: US September PPI exceeded expectations, but the market moved in a "sell the expectation, buy the fact" pattern. Coupled with dovish signals released by US Fed officials, the probability of rate hikes pulled back, the US dollar and US Treasury yields weakened, and precious metals recovered from oversold levels. In the spot market, after silver prices stabilized, some downstream buyers entered the market to purchase, inquiries were active, transactions near parity were good, and overall trading was relatively active.