Gold and Silver Prices Rise as US Inflation Rate Slows

The prices of gold and silver rose following a cooler-than-expected July Consumer Price Index (CPI) report. The CPI data showed modest inflation increases, leading to a drop in September rate hike odds from 48% to around 40%, easing Treasury yields.

Gold increased nearly 0.9% to about $4,406 an ounce, while silver also gained around 0.9%. Despite this, energy inflation risks and geopolitical tensions around the Strait of Hormuz keep markets cautious.