Metals rise, silver jumps 3%, gold up 1%

The prices of precious metals continued to advance on Wednesday after the United States reported a weaker-than-expected increase in inflation in April, apparently raising optimism with investors that the Federal Reserve could consider cutting its interest rates in the near future.

Silver soared by 3.11% at 1:17 pm ET to sell for $29.50 per ounce. At that minute, gold went up by 1.31% to go for $2,388.55 per ounce. Platinum gained 2.25% at 1:18 pm ET, selling for $1,060.59 per ounce. Meanwhile, palladium surged by 2.55% to go for $993.70 per ounce.