Gold Prices Break Above $4,500 as Dollar Weakens

Spot gold and silver prices are sharply higher in early U.S. trading Friday as a weaker U.S. dollar, fading September Fed-hike expectations, and U.S. fiscal concerns keep buyers in control of the precious-metals breakout.

At the time of writing, spot gold was trading near $4,594.60 an ounce, up 1.69%, while spot silver was trading at $69.470, up 2.23% on the session.

The latest positioning remains split between softer U.S. growth data and stubborn inflation risk from oil and long-end yields.

Gold has broken above the $4,447 support-turned-breakout level, cleared the $4,500 area, and is now testing the $4,595 resistance region.