gold silver Follow-through price gains in gold, silver give bulls momentum
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Trading so far this week sees a weaker U.S. dollar, higher crude oil prices, falling U.S. Treasury yields and safe-haven demand--all fueling the runup in the two precious metals’ prices. In a reminder of the global inflation problem, the Euro zone today reported its producer price index in August was up 43.3%, year-on-year, mainly due to soaring energy costs. However, excluding energy, the zone’s August PPI was still up 14.5% from last year.
The most important U.S. data point of the week, if not the month, is Friday’s employment situation report for September from the Labor Department. The key non-farm jobs number is expected to come in at up 275,000. The August report showed a non-farm jobs rise of 315,000.
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