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Gold and silver edge higher as oil slump eases inflation fears; December Fed hike odds fall to 56%

Gold and silver prices ticked up after crude oil extended losses following an interim USIran peace agreement, easing inflation concerns. Markets pared back expectations for further US tightening, with the probability of a December rate hike slipping to 56% from nearly 70% earlier. Spot gold was last traded at $4,343.4 an ounce and spot silver at $70.44 an ounce. Kotak Securities said the Federal Reserve’s policy signals remain the key driver for bullion in the near term.
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