Gold Soars to 13-Month Highs Amid Inflation and Economic Concerns

Gold and silver prices hit 13-month highs due to a tame US inflation report, a slumping US dollar index, and rising crude oil prices. The US producer price index report for March showed a decline of 0.5% from February, putting more downside pressure on the US dollar index. June gold futures bulls have the strong overall near-term technical advantage, with the next upside price objective being a close above solid resistance at the all-time high of $2,078.80. May silver futures bulls have the strong overall near-term technical advantage, with the next upside price objective being closing prices above solid technical resistance at $27.50.