Gold Edges Higher on Thursday, Silver Declines Amid Interest Rate Outlook

Gold prices rose modestly on Thursday, August 13, as markets digested the latest US inflation data and its implications for interest rates.

The precious metal touched an intraday high of $4,509.10 an ounce on COMEX before settling at $4,473.40 an ounce, a 0.13% increase from Wednesday's close.

Silver prices, however, declined by 0.18%, reaching a low of $65.22 an ounce and a high of $66.45 an ounce.

These price movements follow the previous day's surge in gold prices to their highest level in over two months after US inflation data for July came in line with expectations.

The US Consumer Price Index increased 0.1% in July, matching market predictions and reducing expectations of a near-term shift towards tighter monetary policy.