Silver has gone on an absolute tear, surging over 5% intraday today, breaking decisively above the key $90 psychological level and reaching an intraday high of $91.57.As a result, silver ETFs surged in premarket trading. The 2× leveraged silver ETF $ProShares Ultra Silver(AGQ)$ jumped 8.17%, while the largest silver ETF, $iShares Silver Trust(SLV)$ , rose 4.08%, and $Abrdn Silver ETF Trust(SIVR)$ gained 3.96%.On the macro front, U.S. December CPI data released yesterday came in largely in line with expectations. Headline CPI rose 2.7% year over year and 0.3% month over month. Core CPI, however, undershot expectations and matched the prior reading, increasing 2.6% Y
Stocks and Silver Prices React to JPMorgan Earnings and Inflation Data
Stocks declined following JPMorgan Chase's weaker-than-expected earnings and steady consumer inflation data. Treasury yields fell, the U.S. dollar rose amid concerns over Federal Reserve Chair Jerome Powell's position, and crude oil prices hit a high due to tariffs on Iran. JPMorgan's profit dropped 7% in Q4 2025, with CEO Jamie Dimon warning against political interference with the Fed. The inflation rate remained steady at 2.7%, providing some relief to the Federal Reserve. Silver prices surged nearly 200% over the past year, reaching $89 per ounce following a soft CPI report, reinforcing expectations for Federal Reserve rate cuts later in 2026. Despite this, Wall Street trading remained cautious due to a weak start to the earnings season, with JPMorgan's stock falling 3%.