Gold prices were largely unchanged on Thursday, as rising U.S. Treasury yields offset support from a weaker dollar, while markets awaited Friday’s U.S. inflation data for clues on the Federal Reserve’s policy outlook ahead of its December meeting.
Spot gold was up 0.1% at $4,210.49 U.S. per ounce. U.S. gold futures for February settled 0.2% higher at $4,243.00 per ounce.
Meanwhile, silver fell 2.6% to $56.96 after touching a record high of $58.98 on Wednesday. The metal is up about 97.3% this year, supported by a structural supply deficit, concerns around market liquidity and its inclusion in the U.S. critical minerals list.
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