Silver extends gains, up over 5%
The price of spot silver extended gains on Monday, jumping over 5% at 10:23 am ET. Economic uncertainty remained the focal point, as the Federal Reserve expressed its readiness to fight inflation "strongly" as long as necessary. This week the traders will closely be monitoring the United States Consumer Price Index report scheduled for Tuesday, in order to gain clues on what the Fed's next steps might be.
Meanwhile, the American currency continued to fall against both the Euro and the British pound.
Gold grew 0.69% to sell for $1,728.84 per ounce at 10:24 am ET. Silver surged 5.25%, going for $19.82 per ounce at the same time. Platinum advanced by 2.39%, selling for $904 per ounce at 10:25 am ET, while palladium jumped 2.75% to go for $2,246.50 per ounce simultaneously.