Commodities
Dollar Rally Threatens Gold and Silver Prices Ahead of US Jobs Reports
Gold and silver prices continue to face pressure in early Asian trading on Friday as the US dollar index breaks above key resistance at 101.80, reaching a near 17-month high of 102.08.
The strong rally in the dollar keeps both metals under pressure ahead of the US jobs reports, with gold trading near $4,150 an ounce and silver consolidating around $60.40.
Dallas Fed President Lorie Logan's comments add to the challenge, stating that interest rates need to rise by at least another 50 basis points to combat inflation, which may not fall below 2.5% without further increases.