Gold, silver hit 13-mo. highs on tame U.S. PPI, slumping USDX gold silver PPI
- Gold and silver prices are sharply higher in midday U.S. trading Thursday and scored 13-month highs. The metals bulls are being fueled by a tame U.S. inflation report, a slumping U.S. dollar index and rising crude oil prices. Gold bulls are now confident they can breach the all-time record high of $2,078.80, basis nearby Comex futures, sooner rather than later. June gold was last up $28.40 at $2,053.20 and May silver is up $0.437 at $25.90.
Global stock markets were mixed overnight. U.S. stock indexes are higher at midday. The other key outside markets today see Nymex crude oil prices are a bit weaker after hitting a five-month high Wednesday, presently trading around $82.50 a barrel. The benchmark 10-year U.S. Treasury note yield is presently fetching 3.422%.
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