June 13th Silver Morning Review: US PPI Data Miss Boosts Fed Cut Expectations, Silver Volatile, Closes Lower, Barely Holds $36 Mark

Source 丨 Admin

2025-06-13 10:39:13

Lower-than-expected US PPI data fueled Fed rate cut expectations, while Middle East tensions persist. This led to gold's rise, but silver saw volatile trading and closed lower, barely holding the $36 mark. Market focus remains on US consumer sentiment and

On Friday (June 13th) during the Asian trading session, the US Dollar Index is trading around 98.12. Spot silver opened at $36.34/ounce and is currently trading around $36.29/ounce. Silver t+d is trading around 8751 yuan/kg, and Shanghai silver futures are trading around 8766 yuan/kg. This week, market focus will converge on US economic data, especially the Michigan Consumer Sentiment Index, a key indicator to be released on Friday. Meanwhile, Germany's final inflation rate, the Eurozone's trade balance, and industrial production data will also be revealed. In addition, remarks from European Central Bank official Elderson are also worth close attention.

Last Thursday (June 12th), the US Dollar Index closed down 0.78% at 97.87. Spot silver closed at $36.33/ounce, up 0.23%. While spot silver declined, other precious metals showed mixed movements: spot gold rose 0.90% to $3385.37/ounce; spot platinum closed up 3.12% at $1296.38/ounce; spot palladium closed down 0.85% to 1062.00 yuan/ounce.

Key News Express

The National Institute of Economic and Social Research (NIESR) released its May growth estimate for the three months prior to the report's publication. The actual figure was 0.4%, down from 0.7% reported in April.

UK labor market data was also disappointing. Changes in claimant count showed that the number of people claiming unemployment benefits increased by 33,100 in May. This figure reversed the revised decline of 21,200 in the previous month and was lower than the modest expected increase of 9,500.

US May Producer Price Index (PPI) inflation data came in lower than expected, dispelling concerns about tariff-induced inflation and prompting investors to bet more firmly on a Federal Reserve (Fed) rate cut in September.

Trump called Powell an idiot and called for a 200 basis point rate cut.

Australia's consumer inflation expectations, released on Thursday, soared from 4.1% in May to 5% in June. This increase renewed speculation that the Reserve Bank of Australia (RBA) might pause any dovish pivot and maintain a hawkish policy stance in response to persistent inflation concerns.

In contrast, recent US data highlighted a decelerating inflation trend and a stable labor market.

Trump will sign key parts of the US-UK trade agreement within days. Canadian PM: US-Canada trade talks are progressing. Trump: Auto tariffs may be raised in the near future. The US Commerce Department announced a new auto tariff credit process and also announced additional tariffs on steel household appliances, including washing machines and refrigerators, starting on the 23rd.

US media: Israel is considering military action against Iran in the coming days, with an attack as early as Sunday. Trump said an Israeli strike on Iran is "very possible," but would not call it an "imminent attack," leaning towards avoiding conflict. The IAEA announced Iran violated the Nuclear Non-Proliferation Treaty. Iranian media: Iran will launch a new uranium enrichment facility in a safe area. US Ambassador to Israel: Israel is unlikely to attack Iran without US approval. US and Iran will negotiate this Sunday. US media: The US informed Israel it will not directly participate in actions against Iran.

Latest Silver Market Analysis

Gold prices rose further and retested the $3,400 per troy ounce area in response to the deteriorating geopolitical situation, coupled with a lack of clarity on trade and a significant dollar pullback. Silver prices traded in a volatile manner, eventually closing with a slight decline just above the $36.00 per ounce mark.