U.S. Dollar Index Rallies From Increased Consumer Prices & Low Jobless Claims

GOLD

Data showed U.S. consumer prices increased further in May as continued economic recovery from the pandemic boosted domestic demand. Weekly jobless claims also dropped to their lowest level in nearly 15 months. This caused the U.S. Dollar Index to rally, resulting in a lower Gold price today. At 11am PT Today, Gold is trading at $1,877 per ounce, down $17 on light weekend volume.

SILVER

In the face of inflation news, Silver has performed better than Gold today. Silver reached a high of $28.35 today, before the drop in Gold negatively affected it. At 11am PT today, Silver is up $0.05 per ounce, at $27.99 on normal volume.