Gold & Silver Rally on a Low CPI Report

GOLD

It was reported this morning that the June's Consumer Price Index (CPI) fell 0.4% in June
after rising 0.5% in May, the largest monthly decline since April 2020.
This report has renewed investor’s hopes that the Federal Reserve will not increase interest rates this year.
Gold rallied on this news, up $65 on excellent volume in early U.S. trading.
This rally is in the face of continued escalation of the Iran war.
At 11am PT today, gold is trading at $4,063 per ounce, up $68 on excellent volume.

SILVER

Silver followed gold higher on the CPI news, reaching a high of $59.80 before seeing light selling.
At 11am PT today, silver is up $1.30 per ounce, at $58.80 on excellent volume.