Silver continues to recover from 3-month low

Silver prices rose on Monday, extending recovery from a 3-month low for the second straight day, on strong safe-haven demand after the US consumer prices jumped to historical levels.

Silver prices rose more than 0.7% to $22.33 an ounce, after opening at $22.17, and hit a day high at $22.14.

Silver closed higher by 1.1% on Friday, the first daily gain in 3 days, after hitting a 3-month low at $21.82 an ounce.

Silver prices lost 1.6% last week, the fourth straight weekly loss, due to concerns about demand in China.

Consumer prices rose 6.8% in November, the fastest such rate since 1982, triggering bets surrounding the Fed's meeting this week.

Consumer prices did not jump to record levels in the US alone, as they jumped in most parts of the world, which sparked doubts about the ability of global central banks to deal with this new bogeyman!