BusinessPhoto: KitcoGold Falls Slightly, Silver Rises as Oil Prices Drop and Fed Pause Expected
Spot gold prices fell slightly to $4,159.70 an ounce, down 0.11%, while spot silver rose 0.77% to $57.30 amid declining oil prices and lower Treasury yields. Persistent inflation and expectations of further Federal Reserve tightening limited buying interest. September inflation rose 0.6% monthly and 3.7% annually, with producer prices up 1.3% monthly. Industrial production increased 0.7% in September. Fed rate hike expectations for October have eased.
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