Gold, silver prices rise as dollar, treasury yields fall

Spot silver gained 2.30% to $60.5215 per ounce.

Gold and silver prices rose on Friday, supported by a weaker US dollar and lower US Treasury yields and oil prices, amid uncertainty over the outlook for the war between Washington and Tehran, now in its eighth month.

 

Meanwhile, the US Dollar Index, which measures the greenback against a basket of six major currencies, fell 0.15% to 101.98 points.

 

While President Donald Trump said Washington was holding "productive talks" with Iran and confirmed there were no plans to launch an attack before the US congressional midterm elections scheduled for Nov. 3, the US imposed sanctions targeting individuals and 17 vessels transporting Iranian crude oil and petroleum products.

 

According to CME Group's FedWatch Tool, traders priced in a 17% probability of an interest rate hike in October and an 83% chance of an increase in December.

 

Changes in Select Precious Metal Futures and Spot Prices

Metal

Price ($/oz)

Change ($)

Change (%)

Gold (December delivery)

4,215.00

+58.00

+1.40%

Gold (Spot)

4,191.89

+59.39

+1.45%

Silver (December delivery)

60.58

+1.16

+1.95%

Silver (Spot)

60.5215

+1.35

+2.30%

Platinum (Spot)

1,685.07

+38.71

+2.35%

Palladium (Spot)

1,159.34

+30.74

+2.70%
As of 8:19 AM Makkah time.

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