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Gold, silver see strong rallies after tamer U.S. inflation report
Gold and silver prices are sharply up, nearer their daily highs and hit three-week peaks Wednesday, in the aftermath of a morning U.S. inflation report that came in a bit tamer than market expectations.August gold was last up $24.60 at $1,961.70 and September silver was up $1.014 at $24.295. The U.S. data point of the week saw the consumer price index report for June come in up 3.0%, year-on-year, which is slightly lower than the expected rise of 3.1% and compares to the gain of 4.0% in the May report. The "core" CPI, which excludes food and energy, came in at up 4.8%, year-on-year, compared with ... (full story)