Silver Prices Drop as Fed's Waller Signals Potential 50bps Rate Hike

Key Facts

Silver prices plunged over 2% to near $52.20 per ounce during the European session. FXStreet reported that the decline followed warnings from Federal Reserve Governor Christopher Waller regarding a potential 50-basis point interest rate hike in December.

Waller suggested that a half-point hike might be necessary if core CPI reaches 0.3% or higher, a move that increases the opportunity cost of holding non-yielding assets like silver. The hawkish commentary placed immediate pressure on precious metals ahead of key US economic data releases.

The US Inflation Rate for October is scheduled for release today, November 10, 2026, with a forecast of 3.9%. Markets are also awaiting the Super Core CPI MoM data on the same day, which may further influence the Federal Reserve's upcoming policy decisions.