"Gold Surges as U.S. Inflation Cools, Boosting Fed Pause Bets"

Gold and silver prices rally and reach three-week highs after a tamer-than-expected U.S. inflation report, with the consumer price index for June rising 3.0% year-on-year, slightly lower than the expected 3.1%. The U.S. dollar index drops, stock indexes rise, and U.S. Treasury yields fall in response to the positive CPI data. Technical analysis shows that both gold and silver futures have gained momentum and negated previous downtrends, with bulls aiming for higher price objectives.