Gold, silver jump after US inflation data12 Apr 2023 14:48
Prices of precious metals rose on Wednesday following the release of the annual inflation data in the United States, which continued to show signs of cooling.
The consumer price index clocked in at 5% in March, with the figure dropping more than expected, which seemingly pushed investors toward the safe-haven assets as the data revived hopes that the Federal Reserve could slow the pace of interest rate hikes.
Gold jumped 1.16% to $2,026.06 per ounce at 8:36 am ET. At the same time, Silver surged 2.05% to sell at $25.56 per ounce, rising to its highest level since April 2022.
Platinum gained 2.17% going at $1,021.52 per ounce and palladium added 0.27% to $1,443.33 per ounce.
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