Gold and silver prices are firmer in midday U.S. trading Monday, with gold scoring a 2.5-month high. Bullish traders stepped in to buy the early price weakness today. However, gains in the precious metals were limited by a rebound in the U.S. dollar index and rising U.S. Treasury yields to start the trading week. December gold was last up $4.00 at $1,773.40 and December silver was up $0.368 at $22.03.
Traders early this week will keep an eye on the Group of 20 meeting taking place in Bali. U.S. President Joe Biden and Chinese Premiere Xi Jinping met at the confab. China’s government over the weekend took more stimulative measures to reinvigorate its listing property sector. China has also taken steps recently to ease up on its Covid restrictions that continue to hamper the world’s second-largest economy.
There was no major U.S. economic data released Monday. The pace picks up quickly Tuesday, including the release of the producer price index report for October, which is seen coming in at up 0.4% from September and compares to the rise of 0.4% in the September PPI report.
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