Gold & Silver Rally On Inflation News

GOLD

As higher inflation numbers are being reported around the world, the U.S. reported the November Consumer Price Index (CPI) today. The CPI rose at the fastest rate in 39 years, 0.8% for the month of November. Both Gold and Silver rallied on that news. After reaching a low of $1,770 in Asian trading, Gold quickly rallied $15 on this news. At 11am PT today, Gold is up $8 per ounce, trading at $1,786 on normal volume.

SILVER

Silver reached a low of $21.70 per ounce (a two-month low) in early European trading, Silver reacted to the inflation news by rallying $0.50 off its lows. At 11am PT today, Silver is trading at $22.22 per ounce, up $0.14 on good volume.