Gold and silver are surging

Gold and silver are rallying.

On Wednesday morning, gold broke through the key $US1,200 mark, climbing around 1.6%, or $US17, to as high as $US1,211.60 per ounce.

Silver jumped 3.5% to as high as $US17.1 per ounce, the highest level in about a month.

Retail sales data out this morning showed flat growth from March to April, below expectations for a 0.2% gain.

Stocks were also higher on Wednesday, reversing two straight days of losses. 

Here’s a chart showing the jump in gold:

And in silver

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