Gold price slightly up on late-week pause
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Gold prices are slightly higher and silver slightly lower in early U.S. trading Friday. Traders are waiting for the next significant fundamental event to drive daily price action, which could be a geopolitical development over the weekend or U.S. inflation data next week. The U.S. stock market today could also impact the gold and silver markets. December gold is up $2.50 at $2,465.80, and September silver is down $0.046 at $27.56. Asian and European stock indexes were mixed but mostly firmer overnight. U.S. stock indexes are pointed toward slightly lower openings. China's inflation data shows a rise in the consumer price index and a decline in the producer price index. Concerns remain about a flare-up in Middle East military action. The U.S. dollar index is near steady, crude oil prices are up, and the 10-year U.S. Treasury note is fetching 3.967%. No major U.S. economic data is due out Friday. Technically, December gold bulls have the firm overall near-term technical advantage, while September silver futures bears have the overall near-term technical advantage.

#Gold #Silver #Trading #StockMarket #Inflation #Geopolitics

https://www.kitco.com/news/article/2024-08-09/gold-price-slightly-late-week-pause