Gold, silver rise as jobless claims temper PCE-driven Fed repricing - Kitco AM Report - Kitco

(Kitco NewsWire) – Spot gold and silver prices were higher in early U.S. trading Thursday, as soft inflation data kept October Fed-hike expectations below earlier-week levels, while this morning’s jobless claims and elevated Treasury yields limited the relief rally. At the time of writing, spot gold was trading near $4,181.80 an ounce, up 0.62% on the session, while spot silver was trading near $61.090, up 1.33%. Market positioning remains split between lower near-term Fed-hike odds and a still-hostile long-yield backdrop. Initial jobless claims fell to 197,000 for the week, below expectations near 201,000 and down from a revised 198,000 , keeping layoffs low and preventing a clean dovish read-through from Wednesday’s softer PCE inflation print .