Gold slips, silver firms as CPI lifts yields and dollar - Kitco PM Report

Kitco05-12 21:49

(Kitco NewsWire) - Spot gold prices were modestly lower and spot silver prices were firmer late Tuesday as hotter U.S. inflation, higher Treasury yields and a stronger dollar weighed against residual ...

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Kitco PM Report\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-05-12 21:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.kitco.com/news/article/2026-05-12/gold-slips-silver-firms-cpi-lifts-yields-and-dollar-kitco-pm-report><strong>Kitco</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Kitco NewsWire) - Spot gold prices were modestly lower and spot silver prices were firmer late Tuesday as hotter U.S. inflation, higher Treasury yields and a stronger dollar weighed against residual ...</p>\n\n<a href=\"https://www.kitco.com/news/article/2026-05-12/gold-slips-silver-firms-cpi-lifts-yields-and-dollar-kitco-pm-report\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GOAU","symbol_name":"U.S. Global GO GOLD and Precious Metal Miners ETF","start_time":0,"source_url":"https://www.kitco.com/news/article/2026-05-12/gold-slips-silver-firms-cpi-lifts-yields-and-dollar-kitco-pm-report","article_id":"2635226587","we_media_id":null,"thumbnails":[],"rights":{"source":"kitco_highlight","url":"https://www.kitco.com/news/article/2026-05-12/gold-slips-silver-firms-cpi-lifts-yields-and-dollar-kitco-pm-report","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2635226587","pubTimestamp":1778593740,"columns":[],"sourceInfo":{"source_id":"kitco_highlight","name":"Kitco"},"weMediaInfo":null,"summary":"(Kitco NewsWire) - 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Spot gold prices were modestly lower and spot silver prices were firmer late Tuesday as hotter U.S. inflation, higher Treasury yields and a stronger dollar weighed against residual haven demand tied to Middle East supply risk. At the time of writing, spot gold was trading near $4,714.40 an ounce, down 0.42%, while spot silver was trading at $86.440, up 0.54% on the session.Gold’s session range was $4,637.90 to $4,774.20, leaving the market above the $4,700 area but off the day’s high. Silver held a wider session range of $82.940 to $87.320, keeping the gold-silver split intact after Monday’s silver-led move.The April CPI report kept the rates headwind in place. CPI rose 0.6% month over month after a 0.9% increase in March, while the annual rate accelerated to 3.8% from 3.3%. Core CPI rose 0.4% on the month and 2.8% year over year, with energy up 3.8% in April and gasoline up 5.4%.The inflation mix left precious metals with competing signals: sticky price pressure supported the hard-asset narrative, but higher yields and a firmer dollar limited gold’s response. Silver’s outperformance reflected a market still willing to pay for the industrial and monetary mix, even as gold struggled to extend above the upper half of Tuesday’s range.The Senate’s 51-45 confirmation of Kevin Warsh to the Fed Board adds a policy-independence risk premium to gold, but the immediate impact is likely capped unless markets price a faster path to Fed chair and lower real rates. For the broader market, the vote should steepen the focus on Fed credibility, the dollar and long-end Treasury yields: a Warsh chair path could support equities at the margin if rate-cut expectations build, but gold benefits most if the move weakens confidence in the Fed’s inflation-fighting independence. The next U.S. data risk is April PPI on Wednesday at 8:30 a.m. ET, followed by import and export prices on Thursday at 8:30 a.m. ET. Those releases will give rates traders a second read on whether April’s energy shock is feeding through producer margins and tradable goods prices.The key outside markets see Nymex WTI crude oil prices higher and trading around $102.12 a barrel, while Brent crude was near $107.49. The U.S. dollar index was firmer. The yield on the benchmark 10-year U.S. Treasury note was trading near the 4.5% area.Technically, spot gold bulls’ next upside price objective is to push prices back above the $4,700 level, with a sustained move targeting the 50-day moving average near $4,757 and then the $4,860 to $4,880 resistance zone. Bears’ next near-term downside price objective is a break below the $4,660 to $4,680 support zone, with deeper downside targets at $4,530 to $4,550 and then the 200-day moving average near $4,329. First resistance is seen at $4,700 and then at $4,757. First support is seen at $4,660 to $4,680 and then at $4,530 to $4,550.Spot silver bulls’ next upside price objective is to drive prices back above the $85.00 to $86.00 resistance zone, with a move above that zone targeting $95.00 to $96.00. The next downside price objective for the bears is a break below $83.00, with deeper downside targets at $78.00 to $79.00. First resistance is seen at $85.00 to $86.00 and then at $95.00 to $96.00. Next support is seen at $83.00 and then at $78.00 to $79.00.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.2","shortVersion":"4.42.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2635226587","isCrawlerRequest":true}