Silver Pops After US Inflation Data

Silver Pops After US Inflation Data
On Tuesday, the metal traded 1% higher, jumping toward 25.40 USD as traders sold the USD and bought everything else following the recent inflation report.
The CPI for March came out above expectations and printed 8.5% yearly (up from 7.9% in February), while the monthly change jumped from 0.8% to 1.2%. However, the core CPI rose only a notch to 6.5% against expectations of 6.6% and actually decreased monthly from 0.5% to 0.3%, which could have been the main reason behind the euphoric growth of nearly every asset class.

"USD remains supported due to the Fed's active monetary policy, but a lot has been priced in as regards monetary policy so that USD will probably find it increasingly difficult to appreciate further." economists at Commerzbank reported ahead of the data, which came true. 

Silver is now pushing toward the critical resistance of previous highs near 26.40 USD. However, if broken to the upside, further gains to 25.80 USD seem likely.

Alternatively, if sentiment worsens again, we might see a drop to today's lows near 24.80 USD, which might be the essential short-term support. 
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