Gold Nears All-Time High And Sells Off

GOLD

The Bureau of Labor Statistics reported today that the consumer price index (CPI) increased 0.2% for August, in line with the Dow Jones consensus. That’s the lowest point CPI since February 2021. Gold rallied on this news, reaching $2,529 ($2 away from the all-time high), then saw some short-term profit taking.
At 11am PT today, Gold is trading at $2,514 per ounce, up $1 on average volume.

SILVER

The Silver price stayed strong today, successfully testing the $28 support level and reaching a high of $28.94 per ounce. Trading volume in the world’s leading commodity exchanges is picking up because of healthy Silver demand.
At 11am PT today, Silver is up $0.30 per ounce, trading at $28.65 on excellent volume.