Silver rallies 1.4% to $65 after US CPI data; bulls eye $66 resistance.

Key points

• Silver's price rose 1.4% to $65 after the US CPI report, indicating renewed bullish momentum.
• Analysts from Elliott Wave Forecast suggest potential short-term declines before a recovery, with key support zones identified between $58 and $60.
• The August core CPI dipped to 2.4% from July's 2.5%, marking the lowest annual core CPI in 66 months.
• The US Federal Reserve may consider tighter monetary policy in response to the inflation data, introducing uncertainty for the non-yielding silver market.