Gold breaks toward $4,000 as oil, yields weigh on metals - Kitco PM Report

(Kitco NewsWire) - Spot gold and silver prices are sharply lower after the close Wednesday, as the May inflation report, elevated Treasury yields and renewed U.S.-Iran escalation overwhelmed residual safe-haven demand. At the time of writing, spot gold was trading near $4,078.00 an ounce, down 4.26%, while spot silver was trading at $63.605, down 2.66% on the session.U.S. consumer prices rose 0.5% in May and were up 4.2% from a year earlier, while core CPI rose 0.2% on the month and 2.9% over 12