(Kitco News) – Gold prices are posting very strong gains and silver is modestly up in midday U.S. trading Thursday. More robust safe-haven demand amid a wobbly U.S. stock market again amid worries about a U.S.-China trade war, as well as a cooler U.S. inflation report are propelling the precious metals traders late this week.
Also, there are still some lingering worries about the stability of the U.S. Treasury market. June gold was last up $100.60 at $3,180.50. May silver prices were last up $0.37 at $30.775. Mostly overshadowed by the tariff news Wednesday, today’s key U.S. consumer price index report for March came in at up 2.4%, year-on-year, and was expected to come in up 2.6% and compares to up 2.8% in the February report.
The “core” CPI, which excludes food and energy, came in at up 2.8% and was seen coming in at up 3.0% in March, versus up 3.1% in the February report. This data falls squarely into the camp of the U.S. monetary policy doves, who want lower interest rates sooner.
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