Gold and silver rebound as the dollar and yields ease
Gold rose about 1.4% toward $4,200 an ounce. Silver topped $60.
Gold and silver rose on Friday after a week of selling. Kitco and Economy Middle East had gold near $4,185 an ounce, with Economy Middle East putting it up 1.35% at $4,187.28, and silver near $60.40 to $60.90. Investing.com reported gold futures topping $4,200 and silver breaking $60. Levels moved through the day and differ by source.
What helped
Kitco tied the rebound to a softer dollar, easing Treasury yields and lower oil after President Trump said the US would not attack Iran before the November 3 midterms. Gold pays no interest, so it tends to look better when yields and the dollar fall. For the yield story, see our Treasury yields story, and for oil, today's Chain, Crude & Chips.
What to watch
September CPI is due Wednesday, October 14 at 8:30 AM ET, per the Bureau of Labor Statistics. Kitco, which is the only source here for Fed rate-hike odds, said markets priced about a 17% to 19% chance of an October hike and about 82% to 83% for December, per Kitco.
