Gold, silver slip as oil spike keeps Fed-hike trade alive - Kitco AM Report
Gold and silver prices declined in early U.S. trading as rising oil prices and Treasury yields increased pressure on non-yielding assets. Investors are closely watching upcoming inflation data to gauge the likelihood of a Federal Reserve interest rate hike in September.
Why it matters
Precious metal fluctuations serve as a key indicator of market sentiment regarding inflation and central bank monetary policy.
(Kitco NewsWire) - Spot gold and silver prices are lower in early U.S. trading Tuesday, as rising oil prices and elevated Treasury yields kept pressure on non-yielding metals ahead of this week’s U.S. inflation reports. At the time of writing, spot gold was trading near $4,392.60 an ounce, down 0.28%, while spot silver was trading at $65.740, down 0.47% on the session.
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