Gold and Silver Prices Tumble on Slowing Economic Growth

The gold and silver markets are poised for potential volatility this week as investors weigh U.S. economic data and the Federal Reserve's policy path, according to Kitco News.

Bullion prices rose this week after softer inflation and consumer spending figures reduced the likelihood of another rate hike, with gold hitting its highest level since June 5 and silver trading above $64 an ounce on Friday.

Market pricing for a September rate increase fell to about 31%, down from roughly 55% a week earlier. The upcoming data will provide fresh insights into manufacturing and housing, while the release of the Federal Open Market Committee (FOMC) minutes on Wednesday is expected to offer the clearest view of how policymakers balance persistent inflation against signs of slowing growth.