Gold, Silver Prices Soar as Dollar Weakens

The market closed out the week on a strong note, with gold and silver prices rebounding from Thursday's pullback. The weaker dollar and rising conviction that the Fed will hold interest rates in September contributed to the bounce, with spot gold up 0.89% to $4,389.19 and silver running even hotter at +1.66% to $65.52.

The miners are also seeing a broad-based recovery, with Newmont up 4.09%, Agnico Eagle up 4.02%, and Royal Gold up 3.16%. This month's gold rally is now above 10%, with CME FedWatch showing nearly 70% odds of a September hold.

Meanwhile, equities are quiet, drifting in a narrow range as investors digest this week's disinflation data ahead of next week's FOMC minutes and preliminary August PMI reads. Tesla's bounce off oversold RSI levels is the more interesting equity story, worth watching for further development.