(Kitco News) -Gold and silver futures have tacked on more price gains in morning trading Thursday, following the release of U.S. economic data that suggested just a tepid U.S. economic growth rate. The latest gross domestic product figure came in at up just 1.8%, while weekly U.S. jobless claise rose. Precious metals traders viewed this data as another bullish signal that U.S. interest rates will remain very low and that inflationary price pressures could continue to build. The U.S. dollar index remains under selling pressure Thursday morning and is at a 2.5-year low. Comex June gold last traded up $17.00 an ounce at $1,534.10 and is poised to establish another new all-time high. May Comex silver futures last traded up $3.137 an ounce at $49.095 as the silver bulls have quickly regained strong upside technical momentum.
By Jim Wyckoff of Kitco News; jwyckoff@kitco.com
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