Gold and silver prices rose as falling oil prices calmed inflation concerns. 

Gold and silver prices rose over 1% on Monday, as falling oil prices calmed inflation concerns. Investors are awaiting US inflation data for clearer clues on the Federal Reserve’s monetary policy outlook.

 

Meanwhile, the dollar index—which measures the greenback’s performance against a basket of six major currencies—slipped 0.20% to 102.08 points.

 

According to the FedWatch Tool from CME Group, traders now see an 81% chance of an interest rate hike at the Federal Reserve's December meeting, up from 71% before employment data released.

 

Market participants are now awaiting the release of the US consumer price index data, due Tuesday, amid expectations for monthly inflation to slow to 0.3% in October, down from 0.6% in September.

 

Changes in precious metals prices

Metal

Price ($/ounce)

Amount of change ($)

Change (%)

Gold (delivery December)

4,128.50

+53.60

+1.30%

Gold (spot)

4,119.06

+48.26

+1.20%

Silver (December delivery)

52.86

+0.92

+1.75%

Silver (spot)

52.7651

+0.85

+1.65%

Platinum (spot)

1551.98

+12.87

+0.85%

Palladium (spot)

1042.10

+17.22

+1.70%
*At 09:06 a.m. Makkah time.

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Commodity Price

 
Gold
3,906.76
30.14 0.78%
Silver
49.93
0.04 0.09%
PLATINUM
1,534.80
14.10 0.93%

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