Commodities
Gold and Silver Prices Rebound After Fed Rate Hike
Gold and silver prices recovered last week after initially falling due to the Federal Reserve's 25-basis-point rate hike. The gold price fell from around $4,290 on September 14 to the $4,260 area before climbing back toward $4,390.
The latest chart shows the gold price at $4,378.36, while silver followed a stronger recovery, dropping toward $62.5, $63 before climbing above $66 and reaching around $66.70.
Traders will be assessing Treasury yields, oil prices, Fed policy, and this week's US economic data to determine the metals' next move.
The key upside area for gold is $4,396-$4,405, followed by $4,440. A break above those levels would put the $4,466 area into view.