Gold, silver posting price gains as greenback slumps

Gold and silver prices are higher in early U.S. trading Friday. Both metals have posted impressive rebounds from this week’s lows and have been boosted in part by the sell off in the U.S. dollar index, which hit a four-week low overnight. August gold was last up $9.20 at $1,979.80 and July silver was up $0.308 at $24.26, affecting jewelry (rings & earrings) prices as well.

Global stock markets were mixed overnight. U.S. stock indexes are pointed toward slightly higher openings when the New York day session begins. So far Friday, it’s a quieter end to a very busy economic data week. U.S. traders and investors are looking forward to a three-day holiday weekend, as the new Juneteenth federal holiday next Monday has the U.S. government and markets closed.

In overnight news, the Euro zone consumer price index in May rose 6.1%, year-on-year, which was right in line with market expectations.

The U.S. is pushing to improve U.S.-China relations, as U.S. Secretary of State Blinken is headed to China for talks this weekend.

The key outside markets today see the U.S. dollar index slightly lower. Nymex crude oil prices are slightly up and trading around $70.75 a barrel. Meantime, the benchmark 10-year U.S. Treasury note yield is presently fetching around 3.7%.