Gold Slips Below $4,100 on Hot CPI, Silver Plunges 6%

In late trading gold prices fell below the $4,100 level to around $4,098.80 an ounce, down $61.30 or 1.47%. Silver suffered steeper losses, dropping 6.16% to $55.410 an ounce. The moves followed hotter-than-expected U.S. inflation data that lifted Treasury yields, strengthened the dollar and raised the odds of further Fed rate hikes to nearly 40%.