Both Gold And Silver See Some Light Weekend Profit-Taking

GOLD

This morning the Commerce Department reported the August personal consumption expenditures price index shows a slight rise of 0.1% for the month, putting the 12-month inflation rate at 2.2%, down from 2.5% in July and the lowest since February 2021. Gold sold off on this report, reaching a low of $2,642 before rallying back.
At 11am PT today, Gold is trading at $2,648 per ounce, down $23 on average volume.

SILVER

Silver also reacted negatively to the consumption expenditure price index, dropping back down to $31.36 before finding bargain buying. Silver needs to move back up the $32 level by next week to support its current bullish move.
At 11am PT today, Silver is down $0.62 per ounce, trading at $31.45 on good volume.