Price Review: Gold and Silver, November 9–13
Gold. On Monday, gold rose as the dollar weakened. On Tuesday, US inflation data for October was released: consumer prices rose 0.4%, above the expected 0.3%. Gold then fell almost 3%. According to Reuters and Kitco, prices came under pressure from a stronger dollar, rising US Treasury yields, and growing expectations that the Federal Reserve will raise interest rates in December.
Silver. Silver fell together with gold. On Thursday it dropped below $50 per ounce, down about 15% over the month.
What analysts note. According to an analyst quoted by CNBC, strong central bank demand in the third quarter is limiting gold’s decline, although Fed rates are currently working against it. The next market reference points are US producer price data and the Fed meeting on December 8–9.
November 12, per ounce — near the one-year low.
November 12, per ounce. Down about 15% over the month.
Consumer price growth in October, versus the expected 0.3%.
Current prices of the National Bank of the Kyrgyz Republic and Kyrgyzaltyn OJSC for measured bullion bars in soms are published daily on the Department’s website home page.
