Gold And Silver Jump On June CPI Numbers

GOLD

Gold was moving slightly higher in Asia and Europe trading, based on a weaker U.S. Dollar. But, when the U.S. Labor Department released the Consumer Price Index (CPI) for June this morning, Gold jumped $20 immediately. The CPI gained just 0.2% for June which was below expectations and the lowest rate in over 2-years. On that news many equities and all precious metals prices quickly moved higher. At 11am PT today, Gold is up $24 per ounce, trading at $1,956 on strong volume.

SILVER

The Silver price moved sharply higher, reaching a high of $24.24 on the CPI news. Silver gained almost $1, moving above the $24 per ounce resistance level on excellent trading volume. At 11am PT today, Silver is trading at $24.08, up $0.97 per ounce on excellent volume.