Gold and silver prices edged higher on Thursday (October 8) after both precious metals came under pressure in the previous session, with markets assessing the US Federal Reserve’s interest-rate outlook and movements in the dollar and bond yields.
\n\nOn COMEX, gold was trading at $4,152.90 per ounce, up 0.29%, while silver was at $60.645 per ounce, higher by 0.58%, according to data available.
\n\nGold had touched a two-month low in the previous session, while silver also recovered from its recent weakness.
\n\nSpot gold was up around 0.4% at $4,127.40 per ounce, while December US gold futures gained 0.3% to $4,150.60. Spot silver was around $60.39 an ounce, up 0.4%.
\n\nThe immediate focus for gold remains on the US Federal Reserve’s interest-rate path. Higher interest rates and bond yields tend to weigh on gold because the metal does not provide regular income.
\n\nMinutes of the Fed’s latest meeting showed policymakers were divided over the need for further rate increases. Markets currently see an 18% probability of a rate hike later this month, while the probability of an increase in December is around 80%, according to the CME FedWatch tool.
\n\n“Gold prices have been affected by US interest rate expectations, Treasury yields…
Original source: https://www.cnbctv18.com/entertainment/
