Gold and silver prices gave back nearly all of their prior day's rally and the dollar and yen slid further Friday after China reported inflation accelerated in December. Rising inflation reduces the certainty of more economic stimulus, which traders see as a catalyst for driving precious metals prices higher. Spot gold prices lopped off 0.88% intraday to $1,661 an ounce, giving back the prior session's gains. SPDR Gold Shares (GLD), tracking a