Gold Prices Steady as Silver Gains Amid US Interest Rate Outlook

The price of gold remained steady in early trade on October 1, while silver gained as investors assessed the outlook for US interest rates, Treasury yields, the dollar, and geopolitical developments. On COMEX, gold was trading at $4,191.90 an ounce, up $5.20 or 0.12%, with a high of $4,194.60 and a low of $4,169.40.

Silver prices rose to $60.965 an ounce, up $0.399 or 0.66%, after moving between $60.260 and $61.070 an ounce. The recent price movements come after gold recovered from a sharp correction on September 30.

The direction of US Treasury yields and Federal Reserve policy expectations continue to influence gold prices. Higher yields can weigh on the precious metal, as it does not generate interest income.