Gold and silver prices rose in international markets on Friday, October 9, as a softer US dollar and declining US Treasury yields supported demand for precious metals.
\n\nHowever, expectations of further monetary tightening by the US Federal Reserve and persistent inflation concerns could limit gains.
\n\nOn the COMEX, December gold futures were trading at $4,197.10 per ounce, up $40.10 or 0.96% from the previous close of $4,159.70 an ounce. Prices touched an intraday high of $4,199 and a low of $4,156.10 an ounce .
\n\nCOMEX silver futures were at $60.395 per ounce, up $0.971 or 1.63% from the previous close of $59.460 an ounce. The metal moved between $59.450 and $60.430 an ounce during the session.
\n\nThe gains came as the US dollar's rally paused, making dollar-denominated bullion more affordable for investors holding other currencies. The benchmark 10-year US Treasury yield also declined for a second consecutive session, lending support to gold.
\n\nWhy are gold and silver prices rising?
\n\nGold and silver have benefited from a softer dollar and lower Treasury yields. Gold does not pay interest, so a decline in yields can reduce the opportunity cost of holding the metal instead of interest-bearing assets.
\n\nHowever, the outlook remains uncertain.
Original source: https://www.cnbctv18.com/entertainment/
