High September CPI Drives Gold and Silver Prices Lower

GOLD

The Labor Department reported today that Consumer Price Index (CPI) rose 0.6% in
September, after climbing 0.4% in August, putting the 12-month rate at 3.7%.
Gold was trading in the $4,150 range in China, India and London.
However, when trading reached the U.S.and the CPI was reported, Gold dropped $80 per ounce.

At 11am PT today, Gold is trading at $4,086 per ounce, down $64 on excellent volume.

SILVER

Silver was trading over $59 per ounce in oversea trading, until the CPI was reported.
When U.S. trading opened Silver dropped $2.60 per ounce on heavy trading volume.

At 11am PT today, Silver is trading at $56.70 per ounce, down $2.35 on the day on heavy volume.