Gold and Silver Prices Swing Sharply as Inflation Data Keeps Fed Hike Odds Alive

Gold and silver prices surged with high volatility in early U.S. trading Friday after hotter-than-expected core inflation data. Spot gold reached around $4,377.40 per ounce, gaining 1.38%, and silver climbed to $64.945, up 2.12%. The August core CPI rose 0.3% monthly versus forecasts of 0.2%, keeping a Federal Reserve rate hike likely at the mid-September meeting with probabilities at 60-70%.