Gold Slips to $4,329 as Silver Firms Before U.S. CPI
Updated
Updated · Kitco NEWS · Aug 10
Gold Slips to $4,329 as Silver Firms Before U.S. CPI
3 articles · Updated · Kitco NEWS · Aug 10
Summary
Spot gold eased 0.28% to about $4,329.20 an ounce in early U.S. trading Monday, while silver rose 0.55% to $63.80 as traders paused after Friday’s payroll-driven precious-metals rally.
July payrolls fell by 23,000, prior months were revised down by 103,000 and unemployment hit 4.1%, cutting the market-implied chance of a September Fed rate hike to about 44% from roughly two-thirds a week earlier.
Monday’s tone turned more cautious as the dollar firmed and the 10-year Treasury yield edged back toward 4.6% ahead of CPI on Wednesday, PPI on Thursday and retail sales on Friday.
WTI crude near $78.72 and Brent around $84.23 kept the Strait of Hormuz in focus, with Iran tying any full reopening to U.S. concessions—supporting safe-haven demand but also risking stronger inflation expectations.