Gold and silver prices surged Thursday as gold rose 3.54% to 1,317.80 with an increase of $45 in one day. This marked a two month high for gold while silver hit a 3 month high rising to 20.84 with a staggering 5.39 increase in a single day. This came after the U.S. Federal Reserve signaled that rising inflation won't trigger an interest rate rise any time soon.