Metals Stocks: Silver futures climb by nearly 6%; gold prices settle at their highest in 2 weeks

by | Sep 12, 2022 | Stock Market

Silver futures rallied on Monday, tacking on nearly 6%, while gold futures settled at their highest in two weeks, as the U.S. dollar hit a two-week low and Treasury yields pull back, helping to bolster demand for precious metals ahead of Tuesday’s critical inflation update. Price action
Gold futures
GCZ22,
+0.49%
for December delivery climbed $12, or 0.7%, to settle at $1,740.60 per ounce on Comex, with the most actively traded contract settling at the highest price since Aug. 29, FactSet data show.

December silver
SIZ22,
+5.53%
climbed $1.09, or 5.8%, to settle at $19.86 per ounce. Prices marked their highest finish since Aug. 17, ending higher for a sixth consecutive session.

Palladium futures
PAZ22,
+4.11%
for December delivery climbed $97, or nearly 4.5%, to $2,274.60 while platinum
PLV22,
+2.67%
for October delivery climbed $27.30, or 3.1%, to $904.20 per ounce.

December copper
HGZ22,
+1.15%
climbed 4 cents, or 1.2%, to $3.6105 per pound.

What analysts say Analysts attributed the moves higher for gold and silver to the weakness in the dollar, as well as lower Treasury yields.

Gold and silver prices are posting good advances “boosted by another sharp decline in the U.S. dollar inde …

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