Gold, silver prices surge highs as yields ease, Hormuz hopes cap oil inflation fears - Kitco PM Report
Gold and silver prices rallied significantly following weak U.S. labor data and a decline in Treasury yields. Despite this, the Federal Reserve maintains a restrictive stance, with markets still pricing in potential future interest rate hikes.
Why it matters
Precious metals are acting as a hedge against economic uncertainty, reflecting investor anxiety over U.S. monetary policy and labor market cooling.
(Kitco NewsWire) - Spot gold and silver prices rallied sharply after the close Wednesday, as softer U.S. labor data, a weaker U.S. dollar and lower Treasury yields offset lingering expectations that the Federal Reserve could still tighten policy again in September. At the time of writing, spot gold was trading near $4,244.00 an ounce, up 4.11% on the session, while spot silver was trading at $61.880, up 4.16%.
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