Silver rebounds from early 2016 lows, dollar tumbles

Silver futures rose over one percent away from January 2016 lows, while the dollar index backed off January 2017 highs, following earlier data from China, the world's largest metals consumer, and the US. 

As of 07:22 GMT, silver futures due in December rallied 1.09% to $14.13 an ounce away from early 2016 lows, while the dollar index shed 0.50% to 96.82 away from early 2017 highs. 

Earlier Chinese data showed the unemployment rate steadied at 4.9%, same as September, while retail sales rose 8.6% y/y, slowing down from 9.2%, as industrial production rose 5.9%, slowing down as well from 6.1%. 

Chinese fixed-income investments rose 5.7%, accelerating from 5.4% and beating estimates of 5.5%. 

US Inflation Data 

Earlier US data showed consumer prices rose 0.3% m/m in October as expected, above September's 0.1% increase. 

Core prices, excluding food and fuel, rose 0.2% as expected as well, above September's 0.1% increase. 

On a yearly basis, prices rose 2.5% as expected, while core prices rose 2.1%, slowing down from 2.2%.