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Precious Metals Preview: COMEX gold holds above $4700 mark while silver rallies
13-May-2026 09:24

COMEX gold is edged higher after coming under pressure in the previous session after US data revealed hotter-than-expected US inflation. Data released by the Bureau of Labor Statistics on Tuesday showed that the US Consumer Price Index (CPI) climbed 3.8% on year in April, compared to 3.3% in March. This figure came in hotter than the expectation of 3.7% and registered the highest since May 2023. This is turn could lead to higher interest rates which typically weigh on gold prices that is currently quoting higher by half a percent at $4708.50 an ounce. Meanwhile, silver continues bullish momentum amid rising industrial demand. The counter is currently quoting at $87.43 an ounce, up 2.4% on the day.

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