Gold & Silver Continue To Test Key Levels On CPI News

GOLD

This morning the Consumer Price Index (CPI) for November was released. This is a closely watched inflation gauge by the Federal Reserve. The CPI increased 0.1% in November, and was up 3.1% from a year ago. The CPI was not as bullish as expected and Gold traded lower, reaching a low of $1,977 before finding buyers.

At 11am PT today, Gold is trading at $1,980 per ounce, down $5 on average volume.

SILVER

Silver moved lower with Gold in today's CPI numbers. Silver traded above the key $23 level in Asia and Europe, but dropped to a low of $22.67 in U.S. trading after the release of the CPI.

At 11am PT today, Silver is down $0.19 per ounce, trading at $23.80 on normal volume.