Gold, silver see strong price rebounds on “inflation trade”

Gold and silver prices are trading sharply higher in early U.S. trading Friday, following a wild session Thursday, in which the yellow metal’s price was up over $30 at one point and down over $25 at another. It appears metals traders to end the week are focusing on the bullish aspects of “the inflation trade” that has been reignited following Fed Chairman Jerome Powell’s very dovish speech on U.S. monetary policy delivered Thursday morning. October gold futures were last up $37.50 an ounce at $1,962.50. September Comex silverprices were last up $0.74 at $27.765 an ounce.

Global stock markets were mixed overnight. The U.S. stock indexes are also pointed toward mixed weaker openings when the New York day session begins. U.S. stock indexes have had a very good week, with the Nasdaq and S&P hitting record highs and are on track for the best week in two months.


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