Gold edges higher, silver slips as oil keeps inflation risk alive

Spot gold was modestly higher while spot silver was lower in late-afternoon U.S. trade Wednesday, as softer U.S. consumer and producer inflation data weighed on Treasury yields and the U.S. dollar. Despite the metals mixed move, renewed Strait of Hormuz tensions kept crude oil prices elevated, supporting energy-related risk premia.

Analysis

Spot gold was modestly higher while spot silver was lower in late-afternoon U.S. trade Wednesday, as softer U.S. consumer and producer inflation data weighed on Treasury yields and the U.S. dollar. Despite the metals mixed move, renewed Strait of Hormuz tensions kept crude oil prices elevated, supporting energy-related risk premia.