Gold, silver slightly up in quieter trading gold silver
- Gold and silver prices are mildly higher in midday U.S. trading Wednesday. The precious metals markets are getting a very modest boost from slightly friendly outside markets on this day that include a slightly lower U.S. dollar index and firmer crude oil prices. However, gains in both metals were limited by rising U.S. Treasury yields today. April gold was last up $3.10 at $1,887.80 and March silver was up $0.183 at $22.35.
The marketplace on Tuesday afternoon saw Fed Chairman Powell at a Washington, D.C. economic club meeting reiterate that U.S. inflation has started to come down but has a long way to drop to meet the Fed's inflation objectives. Powell was pressed on last Friday's strong jobs report possibly changing Fed policy to more hawkish, but Powell brushed that notion off, at first. However, at the end of his remarks he said more strong U.S.
The key outside markets see the U.S. dollar index just slightly weaker. The yield on the benchmark U.S. 10-year Treasury note is presently fetching 3.681%. Meantime, Nymex crude oil futures prices are up just a bit and trading around $77.50 a barrel.
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