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Silver fell more than 3% to around $50.15 on Thursday as the US Dollar Index hit its highest level since April 2025. Hotter-than-expected October CPI data raised expectations of further Federal Reserve rate hikes, with a December hike now fully priced.
Higher rates and a stronger dollar reduce the appeal of non-yielding assets and raise the cost of dollar-priced commodities for foreign buyers, which is a bearish macro backdrop for feed commodities priced in USD.
fxstreet.comGhiles GuezoutNov 12, 2026After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
