Gold and Silver Advance on Softer CPI Data

Spot gold climbed to $4,089.10 per ounce, up 2.22%, while silver reached $59.12, gaining 2.78%. The advance followed softer-than-expected U.S. CPI figures that eased immediate pressure for another Fed rate hike. Geopolitical tensions in the Strait of Hormuz and higher oil prices also supported the metals.