Gold & Silver Moving High On March CPI News

GOLD

Gold jumped $20 this morning on the Labor Department Bureau announcement that the March consumer price index (CPI) increased only 0.3%, lower than the original estimate. There was light profit taking, but for most of the day, the Gold increase ranged between $20 and $30 per ounce.

At 11am PT today, Gold is trading at $2,393, up $33 per ounce.

SILVER

The Silver price initially jumped $0.62 to $29.25 on the March CPI news this morning. At that price, we saw selling and shorting and the price quickly fell below the $29 level. Then the buyers came back. Silver has had a trading range today of over $1 between $28.41 to $29.54 per ounce, an extraordinary amount of volatility.

At 11am PT today, Silver is trading at $29.70, up $1.07 from Tuesday.