Keep An Eye On Silver Prices As Inflation Heats Up

The Consumer Price Index, which measures the costs of dozens of everyday consumer goods surged a sizzling 7.5% in January from a year earlier, the highest inflation reading since February 1982.

The hot inflation numbers come at a crossroads for the U.S. economy, with 2021′s rapid growth pace expected to slow this year as fiscal and monetary stimulus fades. Growth is still expected to be above trend, though sharper rate increases from an inflation-fighting Fed could prove troublesome – sparking talks of a recession looming on the horizon.

If you’re wondering just how high Silver prices could get – you only have to take a look at what is happening across the entire commodities complex.

Last week, Oil prices crossed $93 a barrel for the first time since September 2014, rallying more than 47% from their November lows. Elsewhere, many other commodities ranging from Aluminium, Lithium to Iron Ore surged past multi-year highs.

With that in mind, its only matter of time before Silver prices eventually catches up with the rest of the commodities complex.

Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:

For a look at all of today’s economic events, check out our economic calendar.